SPH buys five aged care properties for $65.8m

The assets have a total capacity of 365 beds.

Singapore Press Holdings Limited, through its two special purpose vehicles, Straits Himawari TMK One TMK and Straits Himawari TMK Two TMK, has entered into sale and purchase agreements to acquire five aged care assets in Japan for $65.8m (JPY5.26b), said in its bourse filing.

Three of the properties are in Hokkaido, one situated in Nara in the Osaka Metropolitan Region and one property located in Tokyo. The properties have a total capacity of 365 beds.

The aged care facilities are in the activity of providing quality independent living services for seniors including community-based activities, transport and laundry as well as meals and care services.

The acquisition is made as part of SPH’s partnership with Japanese real estate asset manager Bridge C Capital. A fund was established between SPH’s wholly-owned subsidiary, SPH JPAM Bridge-C in October 2019, focused on investing in healthcare assets in Japan.