Kolkata: American investor giant Blackstone has acquired Kolkata’s iconic South City Mall for Rs 3250 crore.
The Mumbai-based Anarock Group was the transaction adviser in the deal. JB Group led the transaction on behalf of South City Projects.
The South City Mall is a prime retail asset in one of the most prestigious and sought-after areas in South Kolkata.
Blackstone’s purchase of South City Mall marks the global asset manager’s entry into the mall sector in Kolkata.
It currently has 18 malls in 14 cities in India through its Nexus Select Trust. The company has invested $20 bn in Indian office space and hotels.
The South City Mall covers an area of over one million sq ft. It has an annual turnover of Rs 1800 crore with 170 stores.
Most popular brands, including Pantaloons, Zara, Shoppers Stop, Tommy Hilfiger, Levi’s, Only, Armani, Calvin Klein, The Collective, United Colours of Benetton, Adidas, Puma, FabIndia, MAC, Skechers and Spencer’s are represented here.
Blackstone plans to position South City Mall for long-term success, benefiting from its scale, operational expertise and deep experience in real estate.
South City Mall, opened in 2008, was led by a consortium of Kolkata’s real estate players like Merlin Group, Sureka Group, Emami Realty and other investors.
