Parkway Life REIT (C2PU.SG) tad higher after lunchbreak, +3% at $1.38 vs +1.5% at $1.36 midday, as healthcare property trust unveils second yield-accretive acquisition in Japan in two months.

REIT will pay $46.8 million for five nursing homes, with expected net property yield of 8.35% vs 7.16% for existing Japan portfolio. Properties come with long-term average lease agreements of 17.45 years, will be funded via 5-year unsecured credit facility at cost of 1.8% annually.

Deal, announced after end of morning session, follows $60.5 million purchase of 6 nursing homes in Japan, underscoring PLife’s bid to drive property income, diversify income stream. Immediate resistance at 52-week high of $1.40.