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Parkway Life Reit to buy Japanese nursing home for 3.2b yen
The 150-bed property in Kisarazu city in Chiba was built in 2017 and will be leased for 20 years to a subsidiary of nursing home operator Habitation Group, at an annual gross rental of about 197.2 million yen.
Its purchase is expected to be completed by year's end. The Reit's Japanese portfolio would then comprise 52 properties, valued at about S$804 million.