Blackstone has bought Mapletree Business City Shanghai and the VivoCity Shanghai shopping centre for $1.25bn (£1bn) from Singapore’s Mapletree Investments.
The US investment giant has completed the purchase of five office blocks and the mall, covering 2.9m sq ft in the southwestern district of Minhang, according to the South China Morning Post.
Mapletree began developing the project in 2012 and opened the five-storey shopping centre last year.
Blackstone is expected to rebrand the mall as Westlink and complete it in the first quarter of 2019.
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