First REIT Also Adds Up Japanese Nursing Homes

News about First REIT

Parkway LIFE REIT isn't the only trust snapping up Japanese retirement homes as First REIT also announces the acquisition of two Japanese Nursing Homes in Kanagawa and Aichi prefectures:

The Properties, which are located near Tokyo and Nagoya city centres, have a combined net property yield of 5.20%.

Following the acquisitions, the geographical diversification of First REIT’s portfolio will be enhanced, with developed markets contributing to approximately one quarter of AUM.

The total purchase consideration is ¥J2.6 billion (approximately S$26.3 million).

First REIT
Price0.245 SGD
NAV0.295 SGD
Yield (4 quarters)10.04%