Parkway Life REIT and IHH Healthcare Sign Deal

News about Parkway Life REIT

The health-care focused REIT and its main tenant are extending their cooperation:

PARKWAY Life Real Estate Investment Trust (Reit) and IHH Healthcare Berhad are extending their collaboration for another 20 years, with Parkway Life Reit also injecting up to S$150 million in renewal capital expenditure, and receiving the right of first refusal (ROFR) for Mount Elizabeth Novena Hospital.

Parkway Life Reit trustee HSBC Institutional Trust Services (Singapore) has entered into new master lease agreements for Mount Elizabeth Hospital, Gleneagles Hospital and Parkway East Hospital with Parkway Hospitals Singapore Pte Ltd, a unit of IHH Healthcare unit Parkway Holdings.

Parkway Life REIT
Price4.560 SGD
NAV1.980 SGD
Yield (4 quarters)3.08%
Gearing37.0%