Blackstone leads race to buy largest mall of Kolkata
The Blackstone Group is an American multinational private equity,alternative asset management, and financial services firm based in New York City. It is the largest alternative investment firm in the world ,especially it has specialized in private equity. Blackstone was founded in 1985 . In 2007, blackstone became a public company. Company's total asset under management were approximately US$545 billion dollars.
A dozen investors, including Blackstone,Xander,and GIC have put in bids for the mall measuring about 1 million square feet the sources said,adding that the deal is expected to be around 2000 crore. It will be the largest mall deals in the past five years. Some of the current owners, including the Emami group,Surekha group,Merlin Group, Shrachi group,Rameswara group and JB group want to exit the mall they set up in 2008,said the sources. A mail sent to xander did not elicit any response. GIC could not be contacted for comments. Emami group also declined to comment on the story. Managing director Merlin Group said that" There are no plans for a stake sale. South City Mall is one of our prized projects". The mall had many firsts to its credit. It was the first mall in the country with a multi-level roof top car park facility, with a capacity of 1,500 cars. It was also the first mall with six movie screens.
It also had the largest food court ,spread over 40,000 sq ft with a seating capacity of 850 people. Global investors have bet big on malls in the country due to fixed rental income and low risk involved. Total inflows in the retail real estate consultant Anarock said in a recent report. Of the PE investments of 5 billion in Indian real estate sector in 2019 were 970 million , the highest since 2015,real estate consultant anarock said in a recent report.
The Blackstone Group is an American multinational private equity,alternative asset management, and financial services firm based in New York City. It is the largest alternative investment firm in the world ,especially it has specialized in private equity. Blackstone was founded in 1985 . In 2007, blackstone became a public company. Company's total asset under management were approximately US$545 billion dollars.
A dozen investors, including Blackstone,Xander,and GIC have put in bids for the mall measuring about 1 million square feet the sources said,adding that the deal is expected to be around 2000 crore. It will be the largest mall deals in the past five years. Some of the current owners, including the Emami group,Surekha group,Merlin Group, Shrachi group,Rameswara group and JB group want to exit the mall they set up in 2008,said the sources. A mail sent to xander did not elicit any response. GIC could not be contacted for comments. Emami group also declined to comment on the story. Managing director Merlin Group said that" There are no plans for a stake sale. South City Mall is one of our prized projects". The mall had many firsts to its credit. It was the first mall in the country with a multi-level roof top car park facility, with a capacity of 1,500 cars. It was also the first mall with six movie screens.
It also had the largest food court ,spread over 40,000 sq ft with a seating capacity of 850 people. Global investors have bet big on malls in the country due to fixed rental income and low risk involved. Total inflows in the retail real estate consultant Anarock said in a recent report. Of the PE investments of 5 billion in Indian real estate sector in 2019 were 970 million , the highest since 2015,real estate consultant anarock said in a recent report.
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