Blackstone arm Nexus Malls eyes acquisitions to double footprint in a year

Nexus currently owns and manages nine mall properties across 5 million sq ft

Blackstone subsidiary Nexus Malls is looking to double its footprint from current nine malls across five million sq ft in a year. Typically, Blackstone buys out an existing mall and hands it over to its subsidiary Nexus Malls. 

Dwelling on the company's future plans, Jayen Naik, senior vice president-operations & projects at Nexus Malls said the company is exploring acquisition opportunities across the country. 

"Our strategy is not to spend time developing greenfield mall properties. Rather, our core competencies lie in acquiring existing properties and then managing and improving them. Blackstone currently owns nine malls across five million sq ft. We are