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First REIT unveils new growth strategy; announces acquisition of 12 Japan nursing homes for JPY24.2 bil

Atiqah Mokhtar
Atiqah Mokhtar12/8/2021 8:35 AM GMT+08  • 3 min read
First REIT unveils new growth strategy; announces acquisition of 12 Japan nursing homes for JPY24.2 bil
The acquisition marks First REIT's maiden foray into the Japan nursing home market.
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The manager of First REIT has announced a new growth strategy following the completion of its corporate restructuring.

Dubbed the First REIT 2.0 Growth Strategy, the new roadmap is structured around four strategic pillars - to diversify into developed markets; to strengthen capital structure through diversification of funding sources; to reshape the portfolio for capital efficient growth by recycling non-core assets; and to pivot to ride megatrends.

“Following its restructuring, First REIT has delivered total unitholder returns of 51% with a 36% increase in unit price from January to November this year. First REIT is now ready to embark on its 2.0 Growth Strategy. Today’s announcements mark the inflexion point as we work towards creating value for our investors in the long term,” says Christopher Williams, chairman of the manager.

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