Nexus Select Trust Expands with Ludhiana Acquisition

Nexus Select Trust has successfully expanded its portfolio by acquiring a significant commercial complex in Ludhiana, including a shopping mall and a Radisson Hotel. The acquisition was concluded for an enterprise value of Rs 531 crore, as detailed in a recent regulatory filing by the company.

The MBD Complex, a high-quality, Grade-A urban consumption center, covers approximately 0.3 million square feet. It stands out with its impressive 95% occupancy rate, demonstrating its robust position in the market.

This acquisition includes a comprehensive plan for enhancements, with a dedicated budget for hotel renovations and mall upgrades, set to maintain the property's premier status. Nexus Select Trust continues to hold a diverse portfolio, setting industry benchmarks as India's first publicly listed retail Real Estate Investment Trust (REIT).

(With inputs from agencies.)