Singapore sovereign wealth fund GIC has reportedly sold a Taiwanese shopping mall, Taimall Shopping Center in Taoyuan City.
The sales price was approximately $450 million.
Hong Kong–based private equity real estate firm ARCH Capital Management made the acquisition via its subsidiary ARCH Capital Property Advisors on behalf of an unnamed institutional investor, who partnered with Taiwanese investment trust Millerful REIT No.1.
ARCH Capital acted as the investment adviser for the institutional investor on the deal and will serve as the property manager of the asset.
Taimall is the largest shopping center in the Taoyuan area with approximately 1.76 million square feet and more than 300 retail tenants, as well as a theater, an entertainment center, and a small sports complex.
