Nexus Select Trust acquires Vega City Mall in Bengaluru for ₹913 crore

Nexus Select Trust has acquired Vega City Mall in Bengaluru for an enterprise value of ₹913 crore.

Nexus Select Trust is India's first publicly listed retail Real Estate Investment Trust (REIT).

In a regulatory filing on Thursday, Nexus Select Trust informed that the company has closed the acquisition of Vega City Mall, a Grade-A shopping mall, in Bengaluru for a total enterprise value of ₹913 crore.

This includes a purchase consideration of ₹869.75 crore and a balance towards planned capex, including renewables, and closing costs.

With this acquisition, Nexus Select Trust has four assets in Bengaluru.

Nexus Select Trust portfolio comprises 18 Grade-A shopping malls with a Gross Leasable Area of 10.4 million square feet spread across 14 cities in India, two complementary hotel assets (354 keys) and three office assets with a Gross Leasable Area of 1.3 million square feet.