E - PAPER

CURRENT MONTH

LAST MONTH

VIEW ALL
  • HOME
  • NEWS ROOM
  • COVER STORY
  • INTERVIEWS
  • DRAWING BOARD
  • PROJECT WATCH
  • SPOTLIGHT
  • BUILDING BLOCKS
  • BRAND SYNC
  • VIDEOS
  • HAPPENINGS
  • E-MAGAZINE
  • EVENTS
search
  1. Home
  2. News/Views

Select Citywalk Finalizes Terms of Mall’s Inclusion in Blackstone Group Retail REIT

Select Citywalk Finalizes Terms of Mall’s Inclusion in Blackstone Group Retail REIT

BY Realty+
Published - Tuesday, 15 Nov, 2022
Select Citywalk Finalizes Terms of Mall’s Inclusion in Blackstone Group Retail REIT

Nexus Malls, the Indian retail portfolio arm of Investment Company Blackstone Group and the Promoters of Delhi’s upscale mall. Select Citywalk has finalized the terms of the mall’s inclusion in an upcoming retail REIT planned by the Blackstone Group.

The REIT will be called Nexus Trust and promotors of Select Citywalk will get a percentage share in the REIT. There will be no deal payment to the mall promotors, however, they can exit at any time once REIT is listed. 

The Select City Mall will be valued by independent valuers and added to the REIT portfolio. The total value of the REIT portfolio including malls such as Blackstone-Nexus and Select City will be around $3 bn. 

Select City alone could be valued between Rs 4,000 and Rs 4,500 crore. The company is expected to file the DRHP by the end of 2022 and out of the 12 mn sq ft Select City operates about 10 mn sq ft and will be part of REIT.

The mall is the trophy retail asset located amongst Delhi’s most affluent residential catchments. With Select’s inclusion, the REIT also expands its footprint in Delhi. It has been in operation for more than 14 years and hence it is stabilized which will provide more stability to the Nexus portfolio. 

Nexus didn’t have a mall in Delhi and with the inclusion of Select Citywalk which generates the highest sales per sq ft in the country, the Blackstone arm will have malls in all metros and mini metros. Select Group’s Promotor has not added any mall to its portfolio in the 15 years that Select Citywalk has been open and they want it to be part of a REIT. There are three REITS for office space in the country but none are dedicated REITs for retail assets.

Select Citywalk was conceptualized by Yog Raj Arora, Neeraj Ghei, and Arjun Sharma in 2003 when they successfully bid at the DDA auction for the 15,884 sq mt plot with a landscaped plaza of 8,992 sq mts. Select Citywalk is operated by Select Infrastructure a JV between the Select Group and the Aarone Group.

RELATED STORY VIEW MORE

Adani Makes Significant Acquisitions of HDIL’s BKC & Shahad Land Assets
Dombivli Scam Effect: Statewide Verification Of Developer-Submitted OCs
Bengaluru Remains Office Hub of India With Highest Space Leasing

TOP STORY VIEW MORE

Samruddhi Mahamarg: Catalyst for Economic Transformation

As per Aayush Madhusudan Agrawal, Founder & Director Inspira Realty, the 701 km six-lane expressway is not just a road, but an economic corridor.

04 July, 2025

Malabar Gold & Diamonds Opens its Largest Manufacturing Site In Hyderabad

04 July, 2025

Navi Mumbai Major Milestone: Raheja Universal Rs 1,726 Cr Sales of Solaris Project

04 July, 2025

NEWS LETTER

Subscribe for our news letter


E - PAPER


  • CURRENT MONTH

  • LAST MONTH

Subscribe To Realty+ online




Get connected with us on social networks!
ABOUT REALTY+

Started in 2004, Realty+, an exchange4media group publication is one of the most respected real estate magazines in India with offices in Delhi, Mumbai and Bengaluru.

Useful links

HOME

NEWS ROOM

COVER STORY

INTERVIEWS

DRAWING BOARD

PROJECT WATCH

SPOTLIGHT

BUILDING BLOCKS

BRAND SYNC

VIDEOS

HAPPENINGS

E-MAGAZINE

EVENTS

OTHER LINKS

TERMS AND CONDITIONS

PRIVACY-POLICY

COOKIE-POLICY

GDPR-COMPLIANCE

SITE MAP

REFUND POLICY

Contact

Mediasset Holdings 3'rd Floor, D-40, Sector-2, Noida (Uttar Pradesh), Pincode - 201301

tripti@exchange4media.com
realtyplus@exchange4media.com

+91 98200 10226


Copyright © 2024 Mediasset Holdings.
Rental Mobil bandung,Sewa Mobil Bandung, Rental bandung, Sewa Mobil, Jual Mesin Antrian, Harga Mesin Antrian, Mesin Antrian Murah, Jual KIOSK,Mesin Antri, Berita Terkini, Info Bray,Info Tempat Wisata,Portal Berita,Jasa Website