Nexus Select Trust Boosts Bengaluru Portfolio with Vega City Mall Acquisition

Nexus Select Trust, India's first publicly listed retail REIT, has acquired Vega City Mall in Bengaluru for Rs 913 crore. This expands their portfolio to four assets in Bengaluru, among 18 shopping malls, hotel assets, and office spaces across India.

Nexus Select Trust has successfully expanded its portfolio by acquiring Vega City Mall in Bengaluru for an enterprise value of Rs 913 crore. This strategic move marks the inclusion of its fourth asset in the city.

In a recent regulatory filing, the company revealed that the purchase comprises a consideration of Rs 869.75 crore, with the balance directed towards planned capital expenditure, including renewable initiatives and closing costs.

The addition aligns with Nexus Select Trust's growing portfolio which now includes 18 Grade-A shopping malls, two hotel assets, and three office spaces across 14 Indian cities.

(With inputs from agencies.)