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. BHG Retail REIT (SGX:BMGU) cancelled the acquisition of Badaling Outlets in Chenzhuang Village, Nankou Town, Changping District, Beijing, China from Chang Dingjie on June 3, 2020. In view of the impact of COVID-19 on the capital markets and the economy as well as the inherent unpredictability and evolving situation, in the interest of the unitholders, BHG Retail REIT and Chang Dingjie have mutually agreed not to proceed with the acquisition. Under the existing terms of the agreements, no break fee is payable by BHG Retail REIT or Chang Dingjie to each other in the event that the acquisition does not proceed, and no deposit had been paid by BHG Retail REIT to Chang Dingjie for the proposed acquisition.