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Parkway Life Real Estate Investment Trust's Parkway Life Japan3 Pte. Ltd Announces Acquisition Of Two Nursing Home Properties

Wednesday, 3 Jul 2013 06:33am EDT 

Parkway Life Real Estate Investment Trust announced that it will be making two further acquisitions in Japan as part of plans to continue growing Japan portfolio. HSBC Institutional Trust Services (Singapore) Limited, as trustee of PLife REIT (the Trustee) has through wholly owned subsidiary, Parkway Life Japan3 Pte. Ltd., entered into a Tokumei-Kumiai agreement (or silent partnership agreement, the TK Agreement, similar to the holding structure for all previous acquisitions in Japan) for the acquisition of two nursing home properties located in Japan (the Properties) at a combined purchase price of approximately SGD23.1 million (JPY1.755 billion). 

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