Capital Shopping Centres (CSC) has secured sole ownership of Glasgow's Xscape Braehead leisure complex.
The site includes a ski slope, retail space, a cinema and restaurants.
It had net rental income of £3.2 million in 2011.
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Property investment firm Capital & Regional will make around £4m for selling its stake in Xscape.
Mike Butterworth, CSC's chief operating officer, said the deal underlined the company's commitment to the area, where it owns the main shopping centre.