Singapore Press Holdings (SPH) will acquire five aged care assets in Japan for a total of 5.26 billion yen (S$65.8 million), as part of SPH's strategy to invest in aged care and healthcare assets.

According to The Business Times, three of the properties are in Hokkaido, one is in Nara, while the fifth is in Tokyo.

The five properties will have a total capacity of 365 beds, and will offer seniors independent living services including community-based activities, transport, laundry, meals and care services.

Deal is expected to complete by March 2020

This acquisition is part of SPH's partnership with Japanese real estate asset manager Bridge C Capital to set up a fund focused on investing in aged care and healthcare assets in Japan.

In October 2019, The Straits Times reported that SPH will invest seed equity of up to S$50 million in the fund, which will acquire assets such as senior housing, nursing homes and medical office buildings in Japan.

It was reported that Bridge C will be the fund's asset manager, focusing on marketing, deal sourcing and management expertise, while SPH and Bridge C will be jointly responsible for raising additional funds, as well as sourcing for suitable assets to acquire.

According to Anthony Tan, deputy CEO of SPH, the aged care industry is set for continued growth in countries with fast-ageing populations like Singapore and Japan.

The deal is expected to complete by March 2020, and BT reported that SPH will disclose more details of the acquisition upon completion of the deal.

Top image from SPH Media Solutions.