India's first retail-focused REIT debuted on Friday. The REIT witnessed a single-digit premium listing, however, gained momentum as it opened on BSE and NSE. Nexus owns India's largest portfolio of consumption centres.
Backed by leading alternative asset manager, Blackstone, Nexus is the first publicly listed consumption centre REIT in India.
Chris Heady, Chairman of Asia Pacific & Head of Real Estate Asia, Blackstone, said, “We are pleased to celebrate the successful launch of Nexus Select Trust, India’s first retail-focused REIT, and bring an unprecedented opportunity to investors. This reinforces our long-standing commitment to India, where we have been significant investors over the last 15 years.”
Tuhin Parikh, Head of Real Estate India, Blackstone, said, “This is the third REIT we have helped bring to India with the support of the government and its ongoing efforts to make India an attractive investment destination for global investors. India is a fast-growing economy with unique consumption tailwinds, and we believe Nexus Select Trust is uniquely positioned to benefit from these trends.”
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