The three properties – Hodaka no Niwa, located in Takayama City, Gifu Prefecture; Orange no Sato, located in Arita-gun, Wakayama Prefecture; and Haru no Sato, located in Shunan City, Yamaguchi Prefecture – are located in residential areas of the respective prefectures.
SINGAPORE (Dec 3): Parkway Life Real Estate Investment Trust (PLife REIT) is acquiring three nursing rehabilitation facilities in Japan for a total consideration of 3.7 billion yen ($46.3 million), the manager announced Tuesday.
The trustee of PLife REIT, through its wholly-owned subsidiary Parkway Life Japan4, has entered into a Tokumei Kumiai (or silent partnership) agreement for the acquisition of the properties. This is similar to the holding structure for PLife REIT’s previous acquisitions in Japan, the manager says.
