Blackstone to Sell 33 Crore Units of Nexus Select Trust

Global investment firm Blackstone plans to divest 33 crore units of its REIT firm Nexus Select Trust for nearly Rs 4500 crore via a block deal on stock exchanges. Post-sale, Blackstone's stake in Nexus Select Trust will reduce from 43% to 21%.

Global investment giant Blackstone is planning to offload 33 crore units of its real estate investment trust (REIT) firm, Nexus Select Trust, through a block deal estimated to be worth Rs 4500 crore. The sale is expected to occur on Friday, sources revealed.

Blackstone currently holds a 43% stake in Nexus Select Trust, India's pioneering REIT backed by retail properties. Sources confirmed that the units will be sold at a floor price of Rs 135 apiece, significantly reducing Blackstone's ownership to 21% post-transaction.

Nexus Select Trust boasts a diverse portfolio comprising 17 shopping malls, two hotels, and three office assets across 14 Indian cities. Launched last year, the Nexus Select Trust raised over Rs 3000 crore, adding to Blackstone's trio of sponsored REITs in India.

(With inputs from agencies.)