Blackstone acquires Kolkata's South City Mall for Rs 3,250 crore
Private equity major Blackstone has acquired South City Mall in Kolkata for a transaction value of Rs 3,250 crore. A consortium of leading real estate players in the Kolkata region developed the South City Mall.
The mall was launched in January 2008. ANAROCK Group advised Blackstone in making one of its biggest real estate deals in India.
Spanning over one million square feet, the South City Mall is one of the biggest shopping malls in Eastern India. It features many international and Indian brands and generates an average annual turnover of over Rs 1800 crore.
It has the largest food court in Kolkata, multi-storeyed parking capable of holding over 1250 cars simultaneously, and houses 150+ stores.
'We are committed to continuing South City Group's wonderful work and positioning South City Mall for long-term success, benefiting from our scale, operational expertise, and deep experiences in the retail sector, particularly in India where we own one of the largest retail portfolios,' said Asheesh Mohta, Head of Real Estate Acquisitions - India, Blackstone.
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