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Nexus Select Trust, India’s first publicly listed retail Real Estate Investment Trust (REIT), has finalized the acquisition of the MBD Complex in Ludhiana for a total enterprise value of ₹531 crore.
The premium, Grade-A mixed-use property spans approximately 3 lakh square feet and includes a nearly fully occupied shopping mall and a 96-room Radisson Hotel. The complex boasts an occupancy rate of around 95%.
According to the company’s regulatory filing, the ₹531 crore deal includes a purchase consideration of ₹490 crore, ₹10 crore in stamp duty, and additional closing costs. It also accounts for planned capital expenditure earmarked for upgrades to both the hotel and mall facilities.
This acquisition adds to Nexus Select Trust’s growing portfolio, which now includes 19 shopping malls totaling 10.6 million sq. ft. of gross leasable area across 15 Indian cities. The trust also owns three hotels with a combined 450 keys and three office assets covering 1.3 million sq. ft.
(Courtesy: PTI)
