Bengaluru, June 17 -- Global asset manager Blackstone Group has acquired South City Mall in Kolkata for Rs.3,250 crore from South City Projects, in the largest retail asset buyout in recent years.

South City Projects is a consortium of real estate developers and business families in Kolkata. Launched in January 2008, South City is the largest shopping mall in eastern India, with over a million sq. ft.

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The deal took around nine months to close. Property consultancy Anarock Group was the transaction adviser.

"We are thrilled to strengthen our presence in India and invest in this iconic asset. South City Mall is a definitive destination in Kol...