Private Equity

PE-RE Fund Investments

Blackstone-backed Nexus Select acquires Vega City mall in Bengaluru for Rs.913-Cr

Economic Times  

Blackstone Group-backed Nexus Select Trust has acquired a nearly 0.5 million sq ft Grade A retail property Vega City mall in south Bengaluru for an enterprise value of INR 913 crore. This includes purchase consideration of nearly INR 870 crore and balance towards planned capex including renewables and closing costs.This is the fourth acquisition made by the retail-focused Real Estate Investment Trust (REIT) in Bengaluru. The acquisition, financed through debt, is expected to enhance the REIT's NAV (net asset value) and DPU (distribution per unit), adding a significant revenue stream.