India, Feb. 13 -- Blackstone-backed Nexus Select Trust, India's first retail real estate investment trust (REIT), has acquired Vega City Mall in Bengaluru for Rs.913 crore, the company informed in a regulatory filing on February 13.

It said that the company has closed the acquisition of Vega City Mall, a Grade-A shopping mall in Bengaluru, for a total enterprise value of Rs.913 crore. This includes a purchase consideration of Rs.869.75 crore and a balance towards planned capex, including renewables and closing costs.

With this latest acquisition, Nexus Select Trust now owns four malls in Bengaluru, covering a total of 1.7 million sq ft, and six malls across Karnataka, with a combined portfolio of 2.7 million sq ft. Nexus plans to double...