Parkway Life REIT acquires Osaka nursing home for $20.7m

The REIT will complete the acquisition by Q3.

Parkway Life REIT has acquired HIBISU Higashi Sumiyoshi, a nursing home in Osaka, for $20.7m (¥2.45b).

The REIT will acquire the property at 9.1% below valuation and complete the acquisition by Q3 2024.

Post-acquisition, the REIT’s Japan portfolio will increase to 60 properties worth $676.8m.

The FDS-developed poetry will also improve the REIT’s weighted average lease expiry, by gross revenue, from 16.05 years to 16.17 years.

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Parkway Life REIT

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