Blackstone a deal away from becoming No 2 mall operator

Buys 2 malls in Indore for Rs 1,200 cr; in final leg of talks to acquire project in Chandigarh

US-based private equity giant Blackstone has bought two malls in Indore from mall developer Manish Kalani and his partner in a deal estimated at Rs 1,200 crore, sources in the know said. The malls — Treasure Island and Treasure Island Next —have a total area of 700,000 square feet (sq ft). 

Blackstone is also in the final leg of talks to acquire a commercial project of Carnival Group in Chandigarh for about Rs 2,200 crore. The property measures 1.8 million sq ft, which includes a 1 million sq ft mall, a Hyatt Hotel and some office space. If this deal