Vega City Mall in Bengaluru acquired by Nexus Select Trust for Rs 913 cr

Nexus Select Trust has acquired Vega City Mall in Bengaluru for an enterprise value of Rs 913 crore. 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 Rs 913 crore. This includes a purchase consideration of Rs 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. Nexus Select Trust is India’s first publicly listed retail Real Estate Investment Trust (REIT).

(Source: PTI)