Developer SingHaiyi Group to buy stake in major shopping mall in Ohio
Singapore-listed developer SingHaiyi Group is buying a 65 per cent stake in a major shopping mall in Cincinnati, Ohio in the United States.
The Tri-County Mall is a two-storey building with gross retail space of 1.26 million sq ft, said SingHaiyi in a statement.
SingHaiyi, which is listed on the Singapore Exchange's Catalist board, is buying the stake from American Pacific International Capital (APIC), a private investment firm owned by the controlling shareholders of SingHaiyi.
SingHaiyi will transfer US$29.3 million to APIC as a deposit for the stake, the company said.