PLife Reit buys Japan healthcare assets
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BANKING on the resurgence of Japan's economy and the growth of the country's healthcare industry for an ageing population, Parkway Life Reit (PLife Reit) is acquiring two nursing homes and an extended-stay lodging facility for the elderly in Osaka city for a combined three billion yen (S$37 million).
The nursing homes are Maison des Centenaire Hannan and Maison des Centenaire Ohhama, while Sunhill Miyako is the extended-stay elderly lodging facility.
Through its Singapore-incorporated special-purpose vehicle, Parkway Life Japan2, the Reit has signed two Tokumei Kumiai (TK, silent partnership) agreements with Japan-incorporated operators for the acquisitions.
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