Global investment firm Blackstone is set to divest 33 crore units of its REIT, Nexus Select Trust, in a significant block deal valued at approximately ₹4500 crore. The transaction is scheduled to take place on August 9, with a floor price of ₹135 per unit.
Currently, Blackstone holds about a 43% stake in Nexus Select Trust, India’s first real estate investment trust focused on retail properties. Following this sale, Blackstone’s stake will be reduced to 21%.
Nexus Select Trust’s portfolio includes 17 shopping malls with a total gross leasable area of 9.9 million square feet across 14 Indian cities, along with two hotel assets totaling 354 keys and three office assets with a gross leasable area of 1.3 million square feet.
Blackstone’s move to monetize its investment is part of its broader strategy to manage and realign its investment portfolio. The firm has previously sponsored three REITs in India: Embassy Office Parks REIT, Mindspace REIT, and Nexus Select Trust, the latter of which was listed last year after raising over ₹3000 crore through public offerings.
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