PAREF Group has established a strategic partnership with Parkway Life REIT, one of the largest listed healthcare REITs in Asia, as it begins its investment strategy in Europe.
PAREF provided investment management advice to Parkway Trust Management Ltd., the manager of Parkway Life REIT, for the sale-and-leaseback acquisition by Parkway Life REIT from DomusVi Group of a portfolio of 11 nursing homes in France for €111.2 million ($138 million). PAREF signed management services agreements providing a full range of real estate services in respect of the portfolio.
“The acquisition of the 11 nursing homes marks an important step for Parkway Life REIT, consolidating our position in the international market and further diversifying our portfolio with the entry into the French market,” said Yong Yean Chau, CEO of Parkway Trust Management Ltd.
