The buyer, K.K. Etoile, is the existing operator of the property and a subsidiary of the Yoshimei Group, an established Japanese corporate group.
Parkway Life REIT has divested a nursing home in Japan for $9.4 million, which is a premium of 38% to the acquisition price back in 2008 and some 5% above the latest valuation.
The REIT expects to book a disposal gain of $0.6 million, which will be redeployed for higher growth opportunities.
