Parkway Life REIT has inducted four nursing homes, and one specialised home for elderly dementia patients in Japan, into its portfolio of properties.
In a disclosure filed with the Singapore Exchange on 24 February, the REIT revealed that the properties acquisition was completed on the same day.
Parkway Life REIT first announced on 17 February that it was acquiring the five properties for JPY4,759 million (USD42 million, or SGD59.5 million).
The acquisition is funded with proceeds from a divestment that was made in 4Q 2016, and has been executed as part of the health care REIT’s overall strategy to recycle its assets.
Units of Parkway Life REIT last changed hands on the Singapore Exchange at SGD2.41.