Home News REITs

Parkway Life REIT acquires a nursing home in Japan for JPY 3.2 billion

Amala Balakrishner
Amala Balakrishner12/10/2021 7:11 PM GMT+08  • 2 min read
Parkway Life REIT acquires a nursing home in Japan for JPY 3.2 billion
The acquisition will be made at around 7.0% below valuation and is expected to generate a net property yield of 5.9%.
Font Resizer
Share to WhatsappShare to FacebookShare to LinkedInMore Share
Scroll to top
Follow us on Facebook and join our Telegram channel for the latest updates.

Healthcare-focused Parkway Life REIT (PLife REIT) is set to acquire a nursing home in the Greater Tokyo Region in Japan at a purchase price of JPY 3.2 billion ($39.2 million).

The acquisition will be made at around 7.0% below an independent valuation of JPY 3.44 billion and is expected to generate a net property yield of 5.9%. The yield was computed by dividing the contractual net property income by the purchase price of the property.

With this, PLife REIT will secure a fresh 20-year lease agreement, thereby lengthening its weighted average lease expiry (WALE) by gross revenue from 17.42 years, to 17.47 years.

For more insights on corporate trends...
Sign In or Create an account to access our premium content.
Subscription Entitlements:
Less than $9 per month
Unlimited access to latest and premium articles
3 Simultaneous logins across all devices
Bonus unlimited access to online articles and virtual newspaper on The Edge Malaysia (single login)
×
Loading next article...
The Edge Singapore
Download The Edge Singapore App
Google playApple store play
Keep updated
Follow our social media
Subscribe to The Edge Singapore
Get credible investing ideas from our in-depth stock analysis, interviews with key executives, corporate movements coverage and their impact on the market.
© 2022 The Edge Publishing Pte Ltd. All rights reserved.