Parkway Life REIT (C2PU.SG) down 5.4% at more than 2-week low of $1.58 on robust volume, driven by married deal of 56.2 million units done at $1.56 each in early trade, says Dow Jones.

According to brokers, private equity group TPG behind sale, offloading its 9.3% stake in hospital REIT of Parkway Holdings (P27.SG), which Khazanah Nasional recently acquired.

“We believe liquidity for the stock should improve soon after TPG’s exit, and this could increase interest in the stock,” says CIMB, which has Outperform call with $1.91 target.

Business largely still as usual despite new owner for PLife’s sponsor Parkway Holdings, with REIT continuing to seek out yield-accretive acquisitions in high-growth Asian healthcare markets. Most recent acquisition concluded in July with PLife taking ownership of five nursing homes in Japan. 30-day moving average, last at $1.53, expected as support.