Parkway Life REIT's Gleneagles Hospital. (Photo: REITsWeek)

US investment management company Cohen & Steers, Inc has reduced its stake in Parkway Life REIT.

Cohen & Steers is a long-time substantial unitholder of Parkway Life REIT, which owns a portfolio of nursing homes and hospitals across Japan and Singapore and Malaysia.

On 15 March, a wholly-owned subsidiary of Cohen & Steers Inc known as Cohen & Steers Capital Management, Inc sold 399,900 units in Parkway Life REIT.

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By Ridzwan Rahmat

Ridzwan has been analysing REITs and business trusts since 2008, and personally manages a portfolio comprising mainly of SGX-listed REITs. He founded REITsWeek in 2013.