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Parkway Life REIT 
Real estate / REIT Healthcare
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Parkway Life Real Estate Investment Trust (REIT) is a healthcare and related real estate investment trust based in Singapore. It was listed on the Singapore Exchange in 2007 and is managed by Parkway Trust Management Limited.
The REIT’s portfolio primarily consists of healthcare and healthcare-related assets such as hospitals, nursing homes, and medical centers, with a focus on Asia-Pacific countries including Japan, Singapore, and Malaysia.
The company’s objective is to provide investors with a stable and growing distribution income, while maintaining an appropriate risk-adjusted total return. It also aims to achieve long-term growth in net asset value by actively managing its portfolio and seeking acquisition opportunities.
Parkway Life REIT’s sponsor is Parkway Hospitals Singapore Pte Ltd, a leading private healthcare provider in Asia. The REIT benefits from a strong balance sheet and a stable and experienced management team.
As of 31 December 2020, Parkway Life REIT had a total property value of S$2.0 billion and a portfolio of 53 properties across its target markets. Its major tenants include reputable healthcare providers such as IHH Healthcare Berhad, Ramsay Health Care Limited, and Thomson Medical Group.
The REIT has consistently outperformed its benchmarks and delivered a stable and growing distribution per unit (DPU) to its unitholders. It is also actively seeking opportunities to expand its portfolio through strategic acquisitions and asset enhancements.
In summary, Parkway Life REIT is a reputable healthcare and related REIT with a strong track record of performance, a stable portfolio, and a well-established sponsor.
The REIT’s portfolio primarily consists of healthcare and healthcare-related assets such as hospitals, nursing homes, and medical centers, with a focus on Asia-Pacific countries including Japan, Singapore, and Malaysia.
The company’s objective is to provide investors with a stable and growing distribution income, while maintaining an appropriate risk-adjusted total return. It also aims to achieve long-term growth in net asset value by actively managing its portfolio and seeking acquisition opportunities.
Parkway Life REIT’s sponsor is Parkway Hospitals Singapore Pte Ltd, a leading private healthcare provider in Asia. The REIT benefits from a strong balance sheet and a stable and experienced management team.
As of 31 December 2020, Parkway Life REIT had a total property value of S$2.0 billion and a portfolio of 53 properties across its target markets. Its major tenants include reputable healthcare providers such as IHH Healthcare Berhad, Ramsay Health Care Limited, and Thomson Medical Group.
The REIT has consistently outperformed its benchmarks and delivered a stable and growing distribution per unit (DPU) to its unitholders. It is also actively seeking opportunities to expand its portfolio through strategic acquisitions and asset enhancements.
In summary, Parkway Life REIT is a reputable healthcare and related REIT with a strong track record of performance, a stable portfolio, and a well-established sponsor.
What is special about the company?
1. Focused on Healthcare Real Estate: Parkway Life REIT is one of the few pure-play healthcare REITs in Asia, with a portfolio consisting mainly of healthcare-related properties such as hospitals, nursing homes, and medical centers.
2. Diversified Portfolio: The company’s portfolio is well-diversified, with properties spread across four geographical regions - Japan, Singapore, Malaysia, and South Korea. This reduces the risk associated with localized economic or regulatory changes.
3. Strong Sponsorship: Parkway Life REIT is sponsored by Parkway Holdings Limited, a leading healthcare provider in Asia with a strong track record and established reputation. This provides stability and credibility to the REIT.
4. Long Lease Tenure: The average lease tenure in the company’s portfolio is 10.5 years, providing stable and predictable cash flows for investors.
5. High Occupancy Rates: The REIT has consistently maintained high occupancy rates, thanks to its prime locations and long-term leases with reputable healthcare operators.
6. Stable and Growing Distribution: Parkway Life REIT has a track record of consistently increasing its distribution per unit (DPU) over the years, providing investors with a stable and growing stream of income.
7. Strong Financial Position: With a prudent debt-to-asset ratio and a solid credit rating, the REIT has a strong financial position, providing stability and resilience in challenging market conditions.
8. Proactive Capital Management: Parkway Life REIT has a proactive approach to capital management, with a focus on maintaining a well-staggered debt maturity profile and a prudent hedging policy to manage interest rate and currency risks.
9. Strong Corporate Governance: The company has a strong corporate governance framework in place, with independent directors making up a majority of the board and regular engagement with unit holders.
10. Sustainability and Social Responsibility: Parkway Life REIT is committed to sustainability and social responsibility, with initiatives in place to reduce its environmental impact and promote community wellness.
2. Diversified Portfolio: The company’s portfolio is well-diversified, with properties spread across four geographical regions - Japan, Singapore, Malaysia, and South Korea. This reduces the risk associated with localized economic or regulatory changes.
3. Strong Sponsorship: Parkway Life REIT is sponsored by Parkway Holdings Limited, a leading healthcare provider in Asia with a strong track record and established reputation. This provides stability and credibility to the REIT.
4. Long Lease Tenure: The average lease tenure in the company’s portfolio is 10.5 years, providing stable and predictable cash flows for investors.
5. High Occupancy Rates: The REIT has consistently maintained high occupancy rates, thanks to its prime locations and long-term leases with reputable healthcare operators.
6. Stable and Growing Distribution: Parkway Life REIT has a track record of consistently increasing its distribution per unit (DPU) over the years, providing investors with a stable and growing stream of income.
7. Strong Financial Position: With a prudent debt-to-asset ratio and a solid credit rating, the REIT has a strong financial position, providing stability and resilience in challenging market conditions.
8. Proactive Capital Management: Parkway Life REIT has a proactive approach to capital management, with a focus on maintaining a well-staggered debt maturity profile and a prudent hedging policy to manage interest rate and currency risks.
9. Strong Corporate Governance: The company has a strong corporate governance framework in place, with independent directors making up a majority of the board and regular engagement with unit holders.
10. Sustainability and Social Responsibility: Parkway Life REIT is committed to sustainability and social responsibility, with initiatives in place to reduce its environmental impact and promote community wellness.
What the company's business model?
The Parkway Life REIT (Real Estate Investment Trust) is a healthcare REIT that focuses on investing in income-generating real estate assets related to healthcare services such as hospitals, nursing homes, and other healthcare facilities.
Their business model is to primarily acquire and own healthcare properties, lease them out to established and reputable healthcare operators, and then distribute the rental income to their unitholders (investors).
They also actively manage and enhance the value of their properties through asset enhancement initiatives, such as refurbishments and expansions, to generate higher rental income and capital appreciation.
Additionally, they may also participate in property development projects to acquire new healthcare properties and expand their portfolio.
By investing in healthcare properties, the Parkway Life REIT aims to provide stable and recurring income to their unitholders, benefit from long-term growth in the healthcare sector, and diversify their portfolio across different geographic locations and healthcare segments.
Their business model is to primarily acquire and own healthcare properties, lease them out to established and reputable healthcare operators, and then distribute the rental income to their unitholders (investors).
They also actively manage and enhance the value of their properties through asset enhancement initiatives, such as refurbishments and expansions, to generate higher rental income and capital appreciation.
Additionally, they may also participate in property development projects to acquire new healthcare properties and expand their portfolio.
By investing in healthcare properties, the Parkway Life REIT aims to provide stable and recurring income to their unitholders, benefit from long-term growth in the healthcare sector, and diversify their portfolio across different geographic locations and healthcare segments.
Interesting facts about the company
1. Parkway Life REIT (PLife REIT) is a real estate investment trust (REIT) listed in the Singapore Exchange (SGX) on 9 August 2007.
2. It was previously known as Parkway Holdings Trust and was established to invest in income-producing real estate specifically healthcare-related assets.
3. PLife REIT is sponsored by Parkway Hospitals Singapore Pte Ltd (PHS). PHS is a wholly-owned subsidiary of Parkway Pantai Limited, a leading healthcare provider in Asia.
4. As of 2019, PLife REIT has a diversified portfolio of 53 properties across Singapore, Japan, and Malaysia. These properties include private hospitals, nursing homes, medical centers, and pharmaceutical facilities.
5. PLife REIT’s investment strategy focuses on acquiring quality healthcare assets with stable and long-term cash flows. This strategy has allowed the company to deliver consistent and stable dividends for its investors.
6. The company has a total asset value of S$1.9 billion as of 2019, making it one of the largest healthcare REITs in Asia.
7. PLife REIT has been recognized for its excellence in corporate governance, sustainability, and investor relations, winning multiple awards from bodies such as the SGX, Global Real Estate Sustainability Benchmark, and Investor Relations Magazine.
8. In 2018, PLife REIT expanded its portfolio with the acquisition of three nursing homes in Japan, strengthening its presence in the country and diversifying its portfolio.
9. PLife REIT has a strong track record of growth, with a 5-year total return of 93.9% as of 31 December 2019.
10. The company has a strong financial position, with a debt-to-asset ratio of 33.4% as of 31 December 2019, well below the regulatory limit of 45%.
11. PLife REIT is governed by a Board of Directors with diverse backgrounds and expertise in the healthcare and real estate industries. This ensures effective oversight and management of the company’s operations.
See Company Due Diligence:
2. It was previously known as Parkway Holdings Trust and was established to invest in income-producing real estate specifically healthcare-related assets.
3. PLife REIT is sponsored by Parkway Hospitals Singapore Pte Ltd (PHS). PHS is a wholly-owned subsidiary of Parkway Pantai Limited, a leading healthcare provider in Asia.
4. As of 2019, PLife REIT has a diversified portfolio of 53 properties across Singapore, Japan, and Malaysia. These properties include private hospitals, nursing homes, medical centers, and pharmaceutical facilities.
5. PLife REIT’s investment strategy focuses on acquiring quality healthcare assets with stable and long-term cash flows. This strategy has allowed the company to deliver consistent and stable dividends for its investors.
6. The company has a total asset value of S$1.9 billion as of 2019, making it one of the largest healthcare REITs in Asia.
7. PLife REIT has been recognized for its excellence in corporate governance, sustainability, and investor relations, winning multiple awards from bodies such as the SGX, Global Real Estate Sustainability Benchmark, and Investor Relations Magazine.
8. In 2018, PLife REIT expanded its portfolio with the acquisition of three nursing homes in Japan, strengthening its presence in the country and diversifying its portfolio.
9. PLife REIT has a strong track record of growth, with a 5-year total return of 93.9% as of 31 December 2019.
10. The company has a strong financial position, with a debt-to-asset ratio of 33.4% as of 31 December 2019, well below the regulatory limit of 45%.
11. PLife REIT is governed by a Board of Directors with diverse backgrounds and expertise in the healthcare and real estate industries. This ensures effective oversight and management of the company’s operations.
See Company Due Diligence:
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