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SPH buys six aged care assets in Canada for $244.5m
This marks the company’s entry to the North American market.
Times Properties, a wholly-owned subsidiary of Singapore Press Holdings (SPH), has entered into an agreement with affiliates of Columbia Pacific Advisors to acquire a portfolio of six aged care assets in Canada for $244.5m (C$232.9m), said in its bourse filing.
These assets comprise five properties in Ontario and one in Saskatchewan. In total, there are 717 suites with an average age of around 7 years. The properties are in the business of providing living accommodation and services to seniors.
This follows SPH’s earlier acquisition of five senior independent living assets in Japan.
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