Key Points
The platform, which owns several malls, is India's first retail assets-led REIT..
It is looking to add new properties spread around 1.5 million sq ft to its portfolio every year for the next three to five years, said Arjun Sharma, vice chairman at Nexus Select Mall Management.The trust will invest 2% of revenue every year to refurbish its malls, he said.. New Delhi: Nexus Select Trust, the Blackstone Group-backed real estate investment trust, plans to focus on eastern India for fresh acquisitions, a top executive said...
Sharma, who was the promoter of Select City Walk mall in Delhi, said he decided to become a partner in the REIT as the group was looking to expand the portfolio for a while...
And by participating in this platform, though we will be a minority shareholder, but across 17 malls and hopefully we'll have the opportunity to grow this platform in the years to come," said Sharma...
Nexus Select Trust, the country's largest mall platform, currently has 17 assets in 14 cities, including Delhi, Navi Mumbai, Bengaluru, Chandigarh and Ahmedabad...
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