Nexus Select Trust Expands into Northeast India with Rs 1,600 Crore Guwahati Project
Mumbai, September 10, 2026: Nexus Select Trust, a listed retail REIT, announced its strategic expansion into Northeast India through the acquisition of a under-construction retail and hospitality project in Guwahati for a total consideration of Rs 1,600 crore. The development marks the trust’s initial footprint in the region, which serves a broader regional market of over 50 million people, Nexus Select Trust said in a press release.
Under the agreement, Nexus will acquire a 100% stake in the Galaxy Complex in Beharbari, Guwahati. The asset comprises the 0.5 million square feet Nexus Galaxy Mall alongside the 164-key Hyatt Regency Hotel. The seller will complete construction according to mutually agreed specifications, with Nexus assuming operational control upon project completion and receipt of necessary regulatory approvals.
The transaction represents the platform’s second under-construction development acquisition since listing. The purchase consideration will be paid upon project completion and is expected to be funded via an estimated 40% debt raise, with the remaining balance covered through a fresh unit issuance and unit swap. Post-acquisition, the platform’s loan-to-value ratio is projected to stay below 20%, maintaining proforma debt headroom of $1 billion for future inorganic growth.
Guwahati serves as the primary commercial hub for the region, accounting for approximately 45% of Assam’s Gross State Domestic Product. Despite a local population exceeding two million and rising household income levels, the city currently faces a shortage of Grade-A organized retail infrastructure.
The acquisition is structured to yield an estimated cap rate of 8.25% to 8.50% for the mall portion and an 11.5x to 12.5x EBITDA multiple for the hotel component. Nexus Select Trust management projects the transaction to be accretive to both Net Asset Value and Distribution Per Unit upon completion, aligning with the platform’s focus on expanding into high-growth consumption markets across East and Northeast India.
