M&A

M&A

Nexus Select Trust eyes eight retail acquisitions

Mint  

Blackstone-backed Nexus Select Trust is planning to acquire eight retail assets across multiple cities as part of its expansion into eastern India and to strengthen its existing market presence. The pipeline includes shopping centres in state capitals such as Bihar and Jharkhand, a property in southern India, and additional land and built-up space at two locations in north India. Among these, the firm is currently acquiring a 500,000 sq. ft shopping centre and a 164-key hotel in Guwahati as part of a brownfield development.Founded in 2023, Nexus Select Trust owns 19 shopping centres across 15 cities, alongside three hotel assets and three office assets. The firm reported a 11% year-on-year increase in net operating income to INR 510-Cr for the April-June quarter.