3 stories mentioning SGX:C2PUUpdated 11d ago
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Parkway Life REIT (SGX:C2PU) fully utilized gross proceeds of around SG$180 million from a private placement exercise to fund the acquisition of 11 nursing homes in France, according to a Tuesday filing with the Singapore Exchange.Earlier, the REIT had launched an equity fund raising to raise SG$180 million to fund the transaction.
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.
Parkway Life REIT's (SGX:C2PU) distribution per unit or DPU surged 15% in the first quarter of the year to SG$0.0442 from SG$0.0384 a year earlier, according to a Thursday filing with the Singapore Exchange.Shares of the REIT were up nearly 1% in Monday trading.Amount available for distribution was up 15% to SG$28.8 million from SG$25.0 million.Net property income fell 2.7% to SG$35.8 million from SG$36.8 million in the year-ago period.Gross revenue declined 2.1% year over year to SG$38.2 million from SG$39 million, mainly due to lower rental income from the Japan portfolio.Committed occupancy for the Singapore and France portfolio stood at 100% while that of Japan came in at 93%.
