(Ian Ritter is national online editor for GlobeSt.com/RETAIL.)

CHATTANOOGA, TN-Mall owner CBL & Associates has joined up with private-equity firm Bain Capital to purchase a stake in Jinsheng Group, a China-based retail developer, for $60 million. This is CBL's first non-US venture.

CBL will contribute $15 million to the investment, while Boston-based Bain will spend the remainder. "We believe this investment positions CBL to take advantage of the incredible expansion and development opportunities currently underway in Chinese retail real estate, albeit on a measured and conservative basis," says Stephen Lebovitz, CBL's president, in a statement.

Jinsheng, based in Nanjing, owns two shopping centers and two home-décor centers in that city, as well as two home-décor assets in Shanghai. In all, the firm operates 7.1 million sf of retail space and is also building several developments.