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Millerful REIT JV buys Taiwanese shopping center for NT$13.8B

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Millerful REIT JV buys Taiwanese shopping center for NT$13.8B

Taiwan-listed Millerful Number One Real Estate Investment Trust teamed up with an unidentified institutional investor for the roughly NT$13.8 billion acquisition of the largest shopping center in the Taoyuan district of Taiwan, Mingtiandi reported.

The purchased Taimall Shopping Center has an aggregate gross floor area of about 100,000 square meters. It is leased to upward of 300 retail tenants and also includes a theater, entertainment center and a small sports complex.

Hong Kong-based Arch Capital Property Advisors, which served as the investment adviser for the undisclosed institutional investor on the transaction, will be taking on the management of the mall, the Dec. 20 report added.

As of Dec. 20, US$1 was equivalent to NT$30.80.