The last quarter had seen turmoil in international financial markets because of weakness and uncertainty in global credit markets, but Ciref said it had coped well.
"Going forward, earnings across the board are expected to be more dependent on rental growth and active asset management, with some assistance from the expected declines in interest rates," Ciref said.
Ciref undertook the investment in partnership with Modus Properties.
A Ciref spokesman said the vendor's identity is protected by a confidentiality clause.
Mark Sennett, a director of Corovest International which is property adviser to Ciref, said "We are delighted to announce the acquisition of Birchwood Shopping Centre in a joint venture with Modus Properties.