Blackstone plans to sell 33 crore units in its REIT, Nexus Select Trust, for nearly Rs 4500 crore via a block deal, with a floor price of Rs 135 per unit. Blackstone’s stake will drop from 43% to 21% after the sale. Nexus Select Trust, India’s first retail-focused REIT, holds a portfolio of 17 malls, 2 hotels, and 3 office assets. The block deal is expected to occur on Friday. The sale could impact Nexus Select Trust’s stock price and Blackstone’s investment strategy, offering liquidity and reshaping the ownership structure.
