The Abu Dhabi Investment Authority–backed Lake Shore India Advisory is in talks with real estate developer Ashwin Sheth Group and Singapore’s sovereign wealth fund GIC to acquire Viviana Mall in Thane, a city just outside Mumbai, in the western Indian state of Maharashtra, for $267.7 million, other media outlets have reported.
The proposed transaction would be the largest-ever single and operational retail property acquisition in the nation.
Viviana Mall, one of the biggest malls in India, is on a 13-acre land parcel, totaling 1.7 million square feet.
GIC acquired a 49 percent stake in Viviana Mall from Ashwin Sheth Group in early 2016.
