Real estate developer Trident Group has acquired Shipra Mall at Indirapuram, Ghaziabad for INR 551 crore, through an auction process. The deal has been funded through a mix of equity and debt. The auction was conducted by Shipra Mall's lenders Indiabulls Housing Finance and Edelweiss Asset Reconstruction Company.
Trident Group, which is developing projects in Delhi-NCR, Mumbai and Tri-city (Panchkula), has forayed into the retail real estate segment with the acquisition of the mall. Out of the total 4.5 lakh sq ft area of the mall, 3.5 lakh sq ft has already been leased. Trident expects to earn a rental income of INR 60 crore annually from the mall.
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