Parkway Life REIT is announcing the acquisition of 11 nursing homes in France for 111.2 million Euros (or about S$160 million):

The healthcare-focused Reit is buying the properties from DomusVi, a nursing home operator in France.

The properties will continue to be leased to DomusVi, under a new lease term of 12 years, after the deal goes through.

To fund the operation, the trust is realizing a private placement of S$180 million.