Hong Kong–based Link REIT has acquired a shopping mall in Shenzhen’s Futian district for RMB 6.6 billion ($982 million).
It marks the REIT’s first property in Shenzhen.
The seller was an independent private investor.
The Central Walk mall is located between the Shenzhen Convention and Exhibition Center, close to a high-speed railway station. It totals 140,000 square meters (1.5 million square feet) of gross floor area.
In November, Link REIT acquired Beijing Jingtong Roosevelt Plaza, a recently completed shopping center in Beijing’s suburban Tongzhou district for $369 million. The seller of the 67,546-square-meter (727,059-square-foot) mall was a fund managed by APM Property Management, the property management arm of Warburg Pincus-backed ARA Asset Management.
