BHG Retail REIT buys first outlet mall
The manager of BHG Retail REIT has proposed to acquire Badaling Outlets, an outlet mall located in Beijing, for a purchase price of S$455 million ($333 million).
It would be the REIT’s first investment in an outlet mall.
The seller of the property is Badaling SPV and Beijing Hualian Fashion Business Consulting Co.
Located at Chenzhuang Village at Nankou Town in Changping District, the property, which comprises 14 buildings, was completed in 2014. Badaling Outlets has a site area, gross floor area (GFA) and net lettable area (NLA) of 128,690 square meters (tk square feet), 58,348 square meters (tk square feet)and 38,797 square meters (tk square feet). It is 100 percent occupied.