Beijinger to open shopping mall in Milwaukee

A Beijing company has purchased a shopping mall in the US, marking the largest overseas acquisition of commercial property by a Chinese enterprise to date.

Beijing's Toward Group said it will open the mall in Milwaukee, Wisconsin, in August 2010 when 40 percent of tenants are expected to have moved in. The company announced its acquisition of the property on Dec 24.

"August is the warmest and most beautiful month in Wisconsin," Wu Li, CEO of Toward, told METRO. "For the first six months, we will waive the rent for our tenants."