Singapore investor makes second overseas investment in senior living
Singapore Press Holdings has paid C$232.9 million ($176.6 million) to acquire a set of Canadian properties.
The seller was Columbia Pacific Advisors.
The portfolio consists of five facilities in Ontario, specifically in Cambridge, Kanata, Guelph, Coburg and Woodstock, and another in the Saskatchewan provincial capital of Regina.
“These acquisitions are part of our strategy to expand our aged care business,” said Ng Yat Chung, SPH CEO. “We continue to seek cash-yielding assets in defensive sectors to build up our recurring income base.”
Recently, the firm acquired five aged care assets in Japan from Shiroishi HC1-Gou Godo Kaisha.