Nexus Select Trust expands portfolio with the acquisition of Vega City Mall in Bengaluru
15 February 2025, Mumbai
Nexus Select Trust has expanded its retail portfolio with the acquisition of Vega City Mall in Bengaluru for an investment of Rs 913 crore. This is their first acquisition since going public in 2023, making them the largest retail platform in Bengaluru by number of malls. Their portfolio now includes 18 malls across 14 cities, totaling over 10.4 million sq ft of ‘Grade A Retail’ space. The Trust now owns four assets in the Bengaluru metro area.
As the first publicly listed retail REIT in India, Nexus Select Trust's portfolio includes shopping malls in 14 cities. Nexus Vega City features a variety of Indian and international brands, including Adidas, American Eagle, Hush Puppies, Lifestyle, Azorte, H&M, Giva, MAC Cosmetics, and Levi's.
The mall was acquired the cost of Rs 869.75 crore, with the Trust allocating additional funds for planned capital expenditure, closing costs, and renewables. It plans to rename the mall as Nexus Vega City.
