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).