Nexus Select Trust Expands with Diamond Plaza Acquisition in Kolkata

Nexus Select Trust has purchased Diamond Plaza in Kolkata for Rs 347.5 crore to enhance its retail portfolio. The asset covers approximately 244,000 sq ft of leasable space. This acquisition aligns with the firm's strategy of bolstering its retail assets across major urban centers.

Nexus Select Trust has taken a significant step in its growth by acquiring the Diamond Plaza shopping mall in Kolkata for Rs 347.5 crore. This move forms part of the company's ongoing efforts to strengthen its asset portfolio.

The acquisition was made through a share purchase agreement with Super Diamond Enterprises, following the firm's restructuring and divestment of unrelated business interests. The transaction covers approximately 244,000 square feet of gross leasable area.

According to a regulatory filing, the acquisition was approved by the Board of Directors of Nexus Select Mall Management Pvt Ltd. The deal is expected to be finalized in the coming four months, thereby expanding Nexus Select Trust's retail presence across major cities.

(With inputs from agencies.)