Vanguard Group Invests Rs 158 Crore in India's First Retail REIT, Nexus Select Trust
Nexus Select Trust, India's first retail real estate investment trust (REIT), sees significant investment from Vanguard Group, a global investment management firm.
Vanguard GroupNexus Select TrustReitRetail Real EstateInvestment ManagementReal EstateAug 14, 2024
The units were picked up at an average price of Rs 138.42 apiece, taking the transaction value to Rs 158.49 crore. This significant investment comes after global investment firm Blackstone sold 31.55 crore units in its REIT firm Nexus Select Trust' for around Rs 4,354.90 crore last week.
Nexus Select Trust is backed by retail properties and has a portfolio comprising 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.
Meanwhile, Morgan Stanley Asia Singapore disposed of 78.41 lakh units of REIT firm at an average price of Rs 138.33 per piece, taking the deal value to Rs 108.47 crore. However, Morgan Stanley Asia Singapore also purchased 3,003 units of Nexus Select Trust.
Nexus Select Trust units rose 1.16 per cent to close at Rs 138.01 a unit on the NSE. 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.
About Vanguard Group
Vanguard Group is a leading investment management firm that offers a wide range of investment products and services to individual and institutional investors. With over $7 trillion in assets under management, Vanguard is one of the largest investment management companies in the world.
About Nexus Select Trust
Nexus Select Trust is India's first retail real estate investment trust (REIT) backed by retail properties. The trust has a portfolio of 17 shopping malls, two hotels, and three office assets 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.
Who invested in Nexus Select Trust?
Vanguard Group, a leading investment management firm, invested Rs 158 crore in Nexus Select Trust.
What is the portfolio of Nexus Select Trust?
Nexus Select Trust has a portfolio comprising 17 shopping malls, two hotels, and three office assets across 14 cities in India.
Who sold stake in Nexus Select Trust?
Morgan Stanley Asia Singapore disposed of 78.41 lakh units of REIT firm at an average price of Rs 138.33 per piece.
What is the current price of Nexus Select Trust units?
Nexus Select Trust units rose 1.16 per cent to close at Rs 138.01 a unit on the NSE.
Related News Articles
India's Grade A Warehousing Sector Set to Cross 300 MSF by 2025
India's warehousing sector is expected to cross the 300 million square foot mark by 2025, driven by rapid industrial growth and e-commerce expansion.
RERA Update: Builders Must Declare Amenities and Timeline to Homebuyers
In a move to safeguard homebuyers and enhance transparency in the real estate industry, Maharashtra RERA has mandated builders to declare all amenities along with their timeline.
Chennai Metropolitan Authority Mandates Departments to Issue NOC within 30 Days
The Chennai Metropolitan Authority has issued a directive to all relevant departments to expedite the No Objection Certificate (NOC) process, ensuring it is completed within 30 days. This initiative aims to streamline the real estate market and provide cl
Supreme Court Ruling Affects Aditya Birla Realty Shares
Aditya Birla Real Estate's shares declined 4.57% on Wednesday after the Supreme Court overturned a 2022 Bombay High Court ruling in favor of the company in a land dispute with the Municipal Corporation of Greater Mumbai (MCGM).
PE Investment in Indian Real Estate Surges 6% to $2.82 Billion in Q4 2024: Anarock
The significant rise in private equity investments in the Indian real estate sector during the last quarter of 2024 highlights the robustness of the market, particularly driven by large-scale transactions. The top 10 deals alone make up 93% of the total P
Essar Renewables' Major Investment in Maharashtra: Rs 8,000 Crore and 2,000 Jobs
Essar Renewables is set to make a significant investment of Rs 8,000 crore in Maharashtra, which is expected to generate 2,000 jobs in the renewable energy sector.