Nexus Select Trust Buys Kolkata Mall for Rs 350 Cr

New Delhi, Apr 7 (PTI) Realty firm Nexus Select Trust has acquired a shopping mall in Kolkata for Rs 347.5 crore to expand its business.

According to a regulatory filing on Tuesday, the Board of Directors of Nexus Select Mall Management Pvt Ltd, Manager to Nexus Select Trust, approved the execution of the share purchase agreements and other transaction documents for the acquisition of Diamond Plaza, Kolkata.

The retail commercial asset has about 2,44,000 sq ft gross leasable area.


Nexus Select Trust has acquired this asset from Super Diamond Enterprises (partnership firm), post its restructuring and hiving of unrelated business, for a consideration of Rs 347.5 crore.

The deal is expected to be completed in the next four months.

Nexus Select Trust, which is a retail asset-backed real estate investment trust (REIT), owns many shopping malls across major cities.