Link REIT's Happy Valley Shopping Mall. (Link REIT)

Link REIT is acquiring a 100% interest in Happy Valley Shopping Mall, and its related loans, for a total of RMB3,204.7 million (USD500 million).

The consideration represents a discount of 4.3% to the appraised property value of RMB3,350 million as at 24 May 2021, said Link REIT.

Happy Valley Shopping Mall is located at eastern part of Zhujiang New Town in Tianhe District of Guangzhou.

It is an 8-storey commercial development with 4-storey basement, with a total gross retail area of approximately 90,113 square metres, and a car park with 800 parking spaces.

It is the only sizable mall in the district, which is in proximity to Huangpu Avenue, a key arterial road in Guangzhou, Link REIT noted.

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By Shariffa Al-Habshee

Shariffa joined REITsWeek in 2017, and monitors Asia-Pacific REITs for the publication.