Singaporean real estate investment trust company BHG Retail REIT has got a green light from unitholders to buy a leasehold interest in a five-storey mall, Hefei Changjiangxilu Mall, in Hefei, China for 328.3 million yuan ($48 million).

The center has a net lettable area of 27,221.63 square meters and a gross floor area of 48,003.09 square meters.

BHG Retail will finance the deal, which is expected to raise distribution per unit for the company’s enlarged portfolio, through borrowings.

The company added that the center is predicted to raise its exposure to the growing city of Hefei.