Blackstone has acquired South City Mall in Kolkata, India, for INR 32.5 billion ($375 million) from property developer South City Projects, according to media outlets.
South City Mall spans more than 1 million square feet and with more than 250 shops.
“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 for India at Blackstone.
The deal sets a record for the price of a retail asset in the city, according to local reports.
“We applaud Blackstone on this acquisition,” said Sushil Mohta, chairman of Merlin Group and director of South City Projects, in a
