India’s first retail REIT Nexus Select Trust acquires Vega City Mall for ₹913 crore
India’s First Retail REIT Acquires Vega City Mall in Bengaluru
In a significant development for the Indian retail market, Nexus Select Trust has successfully acquired the Vega City Mall in Bengaluru for a whopping ₹913 crore. This strategic move marks another milestone in the growth of India’s first retail Real Estate Investment Trust (REIT), aimed at enhancing its portfolio and providing robust returns to its investors.
Details of the Acquisition
Nexus Select Trust has paid a purchase consideration of ₹869.7 crore for the mall, with the remaining funds earmarked for planned capital expenditure and closing costs. The acquisition is expected to bolster Nexus’s presence in the growing retail landscape of Bengaluru, a city known for its vibrant shopping culture and burgeoning consumer base.
Why Vega City Mall?
Vega City Mall stands out as a prime retail destination in Bengaluru, boasting a diverse range of retail outlets, entertainment options, and dining experiences. With its strategic location and modern amenities, the mall is poised to attract a steady flow of foot traffic, making it a valuable addition to Nexus Select Trust’s portfolio.
The Future of Retail REITs in India
The acquisition of Vega City Mall signifies the growing confidence in retail REITs as a viable investment option in India. As consumer spending continues to rise, retail REITs are becoming increasingly attractive to investors seeking stable returns. Nexus Select Trust is at the forefront of this trend, and with their recent acquisition, they are set to capitalize on the booming retail sector.
Shop Smart with Looffers.com
As you explore the latest offerings at Vega City Mall and beyond, don’t forget to check out Looffers.com. With exclusive deals and discounts, Looffers.com is your go-to platform for smart shopping. Save money while enjoying the best shopping experiences Bengaluru has to offer!
Conclusion
The acquisition of Vega City Mall by Nexus Select Trust is a testament to the growth potential of retail REITs in India. As the retail landscape evolves, investors and consumers alike can look forward to exciting opportunities and experiences ahead.
