MBD Complex acquired by Nexus Select Trust
Publicly listed retail Real Estate Investment Trust (REIT), Nexus Select Trust, has acquired MBD Complex, which consists of an operational mall and a hotel in Ludhiana. The deal is done for a total enterprise value of Rs 531 crore, including consideration of Rs 490 crore.
The property is acquired at a discount, is expected to boost net operating income, and deliver value to unitholders.
Also Read: Nexus Select plans to double its portfolio to 20 million sq