Mar 05, 2025 11:26 PM IST
Blackstone is alleged to be nearing a deal to purchase the mall and is speaking to financiers to line up funding for the deal, Bloomberg reported.
Certainly one of India’s largest landlords Blackstone is in talks to purchase one in every of Kolkata’s most well-known malls, South Metropolis Mall, for as a lot as $400 million (about ₹3,500 crore), Bloomberg reported.
Blackstone is among the largest landlords of the nation and is eying to purchase the mall.(Consultant picture/Pixabay)
The mall, owned by South Metropolis Initiatives, is positioned on Prince Anwar Shah Highway and is the biggest shopping center in East India, in response to its web site. South Metropolis Initiatives is a three way partnership of a number of actual property builders based mostly in Kolkata.
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It hosts retailers of manufacturers like Zara, Sephora and Marks & Spencer along with film theatres and a gaming enviornment. It has a gross leasable space of about 800,000 sq. ft. With service areas and automotive parks, the mall is unfold over 1.1 million sq. ft
Blackstone, which has deployed $20 billion in workplace area and motels in India, is reportedly speaking to financiers to rearrange for funding for the transaction.
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The $1.1-trillion asset supervisor is trying to utilise shopper spending, which is liable for practically 60% of India’s gross home product. Blackstone has been investing in warehouses that seize the increase in e-commerce and the mall acquisition would prolong that to brick-and-mortar shops.
If the deal is finalised, it could mark the primary buy of a retail mall by Blackstone in Kolkata.
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Blackstone was based in 1985 as a mergers and acquisitions agency by Peter G Peterson and Stephen A Schwarzman, who had beforehand labored collectively at Lehman Brothers.
In India, Blackstone can be a sponsor of Nexus Choose Belief, an actual property funding belief (REIT), which is the biggest mall operator within the nation.
Really useful Matters Information / Enterprise / Kolkata’s South Metropolis Mall on sale? Certainly one of India’s largest landlords nearing ₹3,500 crore deal
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