Tata Realty sells 2 shopping malls in Amritsar, Nagpur for Rs 700cr
Tata Realty has sold two shopping malls in Amritsar and Nagpur to Singapore-based Virtuous Retail South Asia for Rs 700 crore.
Virtuous Retail South Asia Pte Ltd (VRSA) is the retail arm of private equity firm Xander.
The shopping mall at Amritsar, Punjab, has a leasable area of one million sq ft while the mall in Nagpur, Maharashtra, has 7,00,000 sq ft area.
VRSA said in a statement that it has acquired "Trilium retail shopping center portfolio from Tata Realty for Rs 700 crore (USD 100 million)."
Rohit George, Executive Managing Director, VRSA, said: "These acquisitions immediately add 1.7 million sq ft of existing retail space to our operational portfolio, taking it to about 7 million sq ft across 6 cities."
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