The manager of Parkway Life REIT (PLifeREIT) has announced on June 30 that it has entered into a Tokumei Kumiai agreement (or silent partnership agreement) to acquire two nursing homes in Japan for a consideration of 4.1 billion yen ($49.4 million).

The agreement was signed by the REIT’s wholly-owned subsidiary, Parkway Life Japan4, with Kabushiki Kaisha Strawberry Firm and Kabushiki Kaisha Anthebliss.