New Delhi, April 7 The real estate firm Nexus Select Trust has acquired a shopping mall in Kolkata for ₹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, the 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 approximately 244,000 sq ft of gross leasable area.
Nexus Select Trust has acquired this asset from Super Diamond Enterprises (a partnership firm) after its restructuring and separation of unrelated businesses, for a consideration of ₹347.5 crore.
The deal is expected to be completed within the next four months.
Nexus Select Trust, which is a retail asset-backed real estate investment trust (REIT), owns several shopping malls across major cities.