Parkway Life Reit sells Japan nursing home for US$7.2 million
Amount is about 38% higher than what it paid 18 years ago, and 5% above the latest valuation
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[SINGAPORE] Parkway Life Real Estate Investment Trust has divested a Japan nursing home property for 1.165 billion Japanese yen (US$7.2 million), representing a premium of about 38 per cent over its 2008 acquisition price.
This is about 5 per cent above its latest valuation as at Dec 31, 2025, its manager said on Tuesday (Jun 30) in a bourse filing.
The real estate investment trust (Reit) expects to book a disposal gain of about S$600,000 before tax, which will be redeployed for higher growth opportunities.
The buyer, KK Etoile, is the Hyogo property’s existing operator and a subsidiary of the Yoshimei Group, an established Japanese corporate group.
The consideration was paid in cash.
Noting that the property has been part of its Japan portfolio for close to two decades, the manager said: “Given the asset’s mature profile, increasing capital expenditure requirements and limited valuation upside, the divestment is aligned with Parkway Life Reit’s strategy of proactive recycling capital from older assets into opportunities with stronger long-term growth potential.”
The counter closed at S$4.05, down S$0.03 or 0.7 per cent, before the announcement.
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