Nexus Select Reit eyes multiple mall buys

Nexus Reit has clocked a 14% year-on-year rise in retail net operating income to ₹420 crore in the Sep quarter

- Madhurima Nandy

Blackstone-backed Nexus Select Trust, India's first publicly-listed retail real estate investment trust (Reit), said on Tuesday that it has a robust acquisition pipeline of ten shopping malls and centres, including one greenfield development, as part of its growth strategy.

Three of these assets are currently under due diligence, and the transactions are expected to be closed in the next 5-6 months. The potential acquisitions are spread across the metros and beyond.