Real Estate Transactions
Blackstone-backed Nexus Select Trust acquires Ludhiana mall for Rs.490-Cr
Economic Times MBD Neopolis Mall
Blackstone Group-backed Nexus Select Trust has acquired MBD Neopolis Mall in Ludhiana, for an enterprise value of INR 490 crore from AKM Enterprises. The mall has an aggregate leasable area of over 255,666 sq ft including a 96-key Radisson Blu Hotel MBD, located at Ferozpur Road. The acquisition will be made through a special purpose vehicle (SPV), Select Infrastructure.Nexus started its operations in 2015 with acquisition of its first two malls in Ahmedabad and Amritsar. Its current portfolio comprises 18 urban consumption centres with a gross leasable area (GLA) of 10.3 million sq ft spread across 14 cities, two complementary hotel assets with 354 keys and three office assets with a GLA of 1.3 million sq ft.
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