First Real Estate Investment Trust (First Reit) will restructure the master lease agreements of its 11 Indonesian hospital assets leased to former parent company Lippo Karawaci (LPKR).

The trustee of First Reit on Saturday signed a memorandum of understanding (MOU) with LPKR, in which all the LPKR master lease agreements are extended to Dec 31, 2035, with an option for a further 15-year term by mutual agreement.