BHG Retail REIT entered into an agreement to acquire Badaling Outlets in Chenzhuang Village, Nankou Town, Changping District, Beijing, China from Chang Dingjie for approximately SGD 460 million.

BHG Retail REIT (SGX:BMGU) entered into an agreement to acquire Badaling Outlets in Chenzhuang Village, Nankou Town, Changping District, Beijing, China from Chang Dingjie for approximately SGD 460 million on December 2, 2019. Under the agreement, BHG Retail REIT will issue 260 million new units as consideration along with payment in cash of SGD 260 million. BHG Retail REIT will acquire outlets along with its loan of SGD 90.4 million owed to Chang Dingjie. The cash portion of consideration will be partly funded through debts financing and proceeds from private placement of SGD 60 million. Transaction is subject to certain conditions including no compulsory acquisition of assets, no breach of any clause of the agreement, no statue, regulation or decision prohibit the transaction, approval from the unitholders of retail REIT should be obtained, receipt of approval from Singapore Stock Exchange and procuring financing for the transaction. Jones Lang LaSalle Corporate Appraisal and Advisory Limited acted as independent valuer to BHG Retail REIT. DBS Bank Ltd. acted as financial adviser to BHG Retail REIT.