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PARKWAY Life Reit, which owns Singapore's Mount Elizabeth Hospital, has divested seven nursing homes in Japan for 7.95 billion yen (S$87.3 million).
The sale price is about 28.1 per cent higher than the original purchase price, 16.1 per cent higher than the book value and 8.3 per cent higher than the latest independent valuation, the manager of the real estate investment trust (Reit) said in a statement on Friday evening.
The Reit is expected to recognise an estimated divestment gain of approximately S$12.3 million over its net book value.
Based on the Reit's 2013 financial statements, distribution per unit will decrease from 10.75 Singapore cents to 10.32 cents, while net asset value per unit will increase from S$1.63 to S$1.65.
The counter closed unchanged at S$2.37 on Friday.