The buyer purchased 94,013 shares in the PGIM Real Estate AsiaRetail Fund through its wholly-owned Frasers Property Crystal subsidiary, according to a statement.
The fund owns and manages the Tiong Bahru Plaza, White Sands, Liang Court, Hougang Mall, Century Square and Tampines 1 retail centres in Singapore.
It also has the Central Plaza office building in the city-state, as well as four malls in Malaysia.
Frasers said the deal enhanced the resilience of the group’s portfolio.
“Suburban retail is an asset class that has demonstrated resilience across property cycles,” the company said.
Frasers Property is listed on the Singapore stock exchange and has about S$33bn of assets under management.
The company owns residential, retail, office, logistics and industrial assets across Europe and Asia Pacific.
It also owns hotels and serviced apartments across Europe, Asia Pacific, Africa and the Middle East.