First REIT's future asset in Japan. (First REIT)First REIT's future asset in Japan. (First REIT)

First REIT has announced the proposed acquisitions of 12 Japanese nursing homes from its sponsor, OUE Lippo Healthcare Limited.

The acquisitions are being done as part of the REIT’s “2.0 growth strategy” which seeks to rebalance the REIT’s assets into developed markets, said the REIT on 8 December.

As REITsWeek has been reporting since 2019, First REIT has been looking to re-pivot its portfolio into developed economies across the Asia-Pacific region.

Related: First REIT lays out plans to re-balance out of Indonesia

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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.