Private Equity

Other Private Equity/Strategic Investments

Blackstone in talks to buy Delhi's Select Citywalk Mall for Rs.4,000-Cr

Economic Times  

Nexus Malls, the Indian retail portfolio arm of the investment firm Blackstone group, is in talks to acquire Delhi's premium mall Select Citywalk which claims to generate the highest sales per square foot in the country. The acquisition is part of Blackstone group's broader strategy to launch retail REITs. The value of the transaction could be between INR 3,000 crore and INR 4,000 crore. The rental of the mall is about INR 1,200 per square feet per month. The promoter of Select Group has not added any mall to the portfolio in the 15 years of operation of Select Citywalk and with no plan for expansion, the owners want it to be part of REIT.