Singapore-based Parkway Trust Management has purchased three French nursing homes for €38.8m as part of its role as manager of the Parkway Life Real Estate Investment Trust (PLife REIT).
Parkway acquired the homes from the DomusVi Group, a French provider of housing, services and care for the elderly.
The deal is expected to go through by December 2026, Parkway said in a statement, adding that the properties will continue to be leased to DomusVi following the acquisition.
On completion of the deal, PLife REIT’s French portfolio will expand to 14 properties with an aggregate value of approximately S$234.3m (€164m), representing approximately 10% of PLife REIT’s asset under management, the firm said in a statement.
Yong Yean Chau, executive director and CEO of Parkway Trust Management, said: “This acquisition represents another measured step in scaling PLife REIT’s presence in France, our third key market.
“Building on our partnership with DomusVi since 2024, this off-market transaction expands our footprint in France and positions us to capture further growth opportunities. The long-term leases also provide greater income visibility and resilience, supporting sustainable returns to our unitholders,” he added.
The properties are underpinned by long-term 12-year leases, providing PLife REIT with enhanced income visibility and a stable and resilient income stream, Parkway said.
The lease structure also provides a natural hedge against inflationary pressures, supporting the sustainability of rental income amid rising operating costs and interest rate volatility, the company added.
The total acquisition outlay, including estimated capitalised and acquisition-related costs, is expected to be approximately €43.4m and will be fully debt-funded.
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