Parkway Life REIT (SGX:C2PU), via its special purpose entity, signed a purchase and sale agreement with KK Etoile to divest its nursing home property for 1.17 billion yen, according to a Tuesday filing with the Singapore Exchange.
Following the divestment, the REIT owns 60 properties across Japan.
Net proceeds from the divestment will be used to fund future acquisitions and/or repay borrowings, enhancing the overall value and growth potential of the REIT.