<article>Singapore listed property trust <a href="http://www.plifereit.com/" target="_blank">Parkway Life</a> announced that it had bought four nursing homes and one group home in Japan for S$67 million.</article>

Singapore listed property trust <a href="http://www.plifereit.com/" target="_blank">Parkway Life</a> announced that it had bought four nursing homes and one group home in Japan for S$67 million.
It had acquired these properties from Ostara Japan One TMK4 and UBI Kabushiki Kaisha. “The acquisition is in line with the valuation and is expected to generate a net property yield of 6.6 per cent. It is targeted to be completed by the first quarter of 2015,” the company said in a statement.
The latest acquisition comes within months of Parkway Life Real Estate Investment Trust (PLife REIT), which ranks among the region’s largest listed healthcare trusts, selling seven nursing homes in Japan. In December 2014, it had divested these assets to <a href="http://www.fortress.com/">Fortress Japan Investment Holdings</a>, a leading global investment firm, for ¥7,950,000,000 (approximately S$88.3 million or $66.7 million).
In late 2014, PLife REIT had also <a style="color: #000080;" href="http://www.dealstreetasia.com/stories/singapore-roundup-hpl-plife-reit-psa/">purchased nursing home Ocean View Shonan Arasaki for S$18.9 million</a> from Oueikikaku Kabushiki Kaisha and in October last year, it had reached a deal to buy another nursing home, Habitation Jyosui S$39.3 million from Ostara Japan Two TMK.
“The divestment of seven properties at the end of 2014 has provided us with additional capital to acquire the properties as we fortify our portfolio and continue to grow in Japan,” said Yong Yean Chau, the chief executive officer.
“In addition, we have the opportunity to partner with three new nursing home operators and have added the first group home to our Japan portfolio,” he added.
With the new acquisition, PLife REIT’s Japan portfolio will stand at approximately S$546 million equivalent to about 34 per cent of its total assets under management.
The company also pointed out that Shinzo Abe’s election victory in December 2014 could lead to the healthcare industry being further deregulated as part of the Japanese government’s economic reform to revitalise and spur growth in this sector through attracting private sector participation.  It further said that this observation was supported by the listing of Japan’s first healthcare facility focused REIT (Nippon Healthcare Investment Corporation) on the Tokyo Stock Exchange in early November 2014.
“As the country with the highest life expectancy, coupled with the proportion of people aged 65 or above being expected to reach nearly 40 per cent of the population in 2060 , there will be a higher demand of eldercare facilities in Japan from which PLife REIT can benefit,” the company added.
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Singapore listed property trust Parkway Life announced that it had bought four nursing homes and one group home in Japan for S$67 million.

Parkway Life buys 4 nursing homes in Japan for S$67m

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Parkway Life buys 4 nursing homes in Japan for S$67m

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