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Singapore retail trust BHG buys Beijing mall

BHG Retail Real Estate is seeking to purchase has proposed to acquire 58,348sqm Beijing outlet mall Badaling Outlets for SGD455 million (US$333.3 million).

A Business Times report said the proposed acquisition would be the Reit’s first investment in an outlet mall. The mall’s land lease is due to expire in 2037. BHG is seeking all shares in the investment and has already entered a conditional purchase agreement.

The cost of the transaction will be payable partly in cash and partly with an issuance of new units in BHG Retail Reit to the vendor.

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