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Parkway Life Reit buys nursing home in Saitama prefecture for 1.5 billion yen

Published Wed, Feb 7, 2018 · 09:50 PM

Singapore

PARKWAY Life Reit on Wednesday announced the acquisition of a nursing rehabilitation facility, Konosu Nursing Home Kyoseien, under a sale-and-leaseback agreement with nursing home operator Iryouhoujin Shadan Kouaikai for 1.5 billion yen (S$17.8 million).

The acquisition of the 120-room property in Saitama prefecture will be made at 7.4 per cent below the valuation of 1.62 billion yen as at end-December 2017 by KK Halifax Associates.

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