Vanguard Group Invests ₹158 Crore in Nexus Select Trust, India's First Retail REIT
Nexus Select Trust, India's first retail real estate investment trust (REIT), has caught the attention of global investors, with Vanguard Group purchasing over 1.14 crore units for ₹158 crore.
Vanguard GroupNexus Select TrustReitReal Estate Investment TrustRetail PropertiesReal EstateAug 14, 2024
According to the bulk deal data available on the National Stock Exchange (NSE), the US-based Vanguard Group purchased 1,14,50,476 units, amounting to a 0.75% stake in Nexus Select Trust. The units were picked up at an average price of ₹138.42 apiece, taking the transaction value to ₹158.49 crore.
On the other hand, Morgan Stanley Asia Singapore disposed of 78.41 lakh units of REIT firm at an average price of ₹138.33 per piece, taking the deal value to ₹108.47 crore. However, the details of other sellers of the REIT firm's units could not be ascertained.
Interestingly, Morgan Stanley Asia Singapore also purchased 3,003 units of Nexus Select Trust. Nexus Select Trust units rose 1.16% to close at ₹138.01 a unit on the NSE.
Last week, global investment firm Blackstone sold 31.55 crore units in its REIT firm Nexus Select Trust' for around ₹4,354.90 crore as part of a strategy to monetise its real estate portfolio.
Domestic mutual funds, including ICICI Prudential Mutual Fund (MF), and HDFC MF picked up units of Nexus Select Trust. Among foreign companies, US-based financial services company Wells Fargo and Morgan Stanley acquired stakes in the company, while French asset management firm Carmignac also bought units of the REIT firm.
Nexus Select Trust's portfolio comprises 17 shopping malls with a gross leasable area of 9.9 million square feet spread across 14 cities, two complementary hotel assets (354 keys) and three office assets with a gross leasable area of 1.3 million square feet.
Vanguard Group's investment in Nexus Select Trust is a significant development in the Indian real estate sector, which has been witnessing a surge in investments from global players.
About Vanguard Group
Vanguard Group is a US-based investment management company that offers a range of financial products and services to individual and institutional investors. Founded in 1975, the company is headquartered in Malvern, Pennsylvania, and has over $7 trillion in assets under management.
About Nexus Select Trust
Nexus Select Trust is India's first retail real estate investment trust (REIT) backed by retail properties. The REIT firm's portfolio comprises 17 shopping malls, two complementary hotel assets, and three office assets spread across 14 cities in India.
Frequently Asked Questions
What is Nexus Select Trust?
Nexus Select Trust is India's first retail real estate investment trust (REIT) backed by retail properties.
How many units of Nexus Select Trust did Vanguard Group purchase?
Vanguard Group purchased 1,14,50,476 units of Nexus Select Trust.
What is the transaction value of Vanguard Group's investment in Nexus Select Trust?
The transaction value of Vanguard Group's investment in Nexus Select Trust is ₹158.49 crore.
What is the portfolio of Nexus Select Trust?
Nexus Select Trust's portfolio comprises 17 shopping malls, two complementary hotel assets, and three office assets spread across 14 cities in India.
Who are the other investors in Nexus Select Trust?
Other investors in Nexus Select Trust include domestic mutual funds such as ICICI Prudential Mutual Fund and HDFC MF, as well as foreign companies such as Wells Fargo, Morgan Stanley, and Carmignac.
Related News Articles
Mumbai Property Registrations Surge in February 2025
Mumbai witnessed a significant rise in property registrations in February 2025, with 12,066 units registered, driven by a strong demand in the housing market, according to Knight Frank India.
Panchshil Realty Sells 4.8 Acres of Prime Land in Pune's Wagholi to Local Developer
Panchshil Realty, through its affiliated entity Wagholi Estates, has successfully sold a 4.8-acre prime land parcel in Pune's Wagholi area to a city-based real estate developer. This strategic move highlights the growing real estate market and development
Exploring SIP Investments Amidst Market Volatility: My Journey
The four most popular asset classes are equity, debt, gold, and real estate. These can be categorized into two broad categories based on their risk and return profiles. Here's how I navigated my SIP investments, especially during the challenging times pos
Pune Family Seeks Financial Aid and Job Support After Loss of Breadwinner
A family in Pune is appealing for financial assistance and job opportunities after the untimely death of their primary breadwinner, Santosh Jagdale. The family is struggling to make ends meet and is reaching out to the community for support.
Maharashtra Government to Build 12,000 Homes for Dabbawalas in Mumbai Under PMAY Scheme
Maharashtra government signs MoU to construct 12,000 houses for dabbawalas in Mumbai under PMAY scheme. 500 sq ft flats to be made available for ₹25 lakh.
Rate Cuts Likely to Enhance Home Affordability in India Over Next Year
NEW DELHI: India's residential real estate market is set to see a significant boost in home affordability over the next 12 months, thanks to recent interest rate cuts. Cities such as Mumbai, Delhi, Bengaluru, and Pune are expected to approach optimal leve