PLife REIT splurged $57.5m in five nursing home properties
Purchase set for October.
According to OSK, PLife REIT has extended its footprint in Japan with its new acquisition from K.K Sawayaka Club, a wholly owned subsidiary of K.K Uchiyama Holdings. Under this transaction, PLife REIT acquires five nursing home properties.
The acquisition, which cost SGD57.5m in total, is expected to generate a net property yield of 7%. The purchase is expected to be done by October. With the additional properties, PLife REIT’s Japan portfolio will stand at 32.9% of the total asset management. Since 2010, PLife REIT has acquired 10 nursing homes from K.K Uchiyama Holdings.