First REIT's property in Singapore, Pacific Healthcare nursing home in Bukit Merah (Photo: REITsWeek)

A healthcare subsidiary of OUE Limited has proposed to acquire approximately 10.63% of First REIT’s total issued units.

The company, OUE Lippo Healthcare Limited, is also looking to acquire a 40% stake in Bowsprit Capital Corporation Limited, the manager of First REIT.

Accordingly, OUE Limited will acquire the remaining 60% stake in the REIT’s manager.

First REIT is a healthcare REIT with a portfolio of 20 properties, including hospitals and nursing facilities, across Indonesia, Singapore, and South Korea.

To read the full article, please login or subscribe.

By Ridzwan Rahmat

Ridzwan has been analysing REITs and business trusts since 2008, and personally manages a portfolio comprising mainly of SGX-listed REITs. He founded REITsWeek in 2013.