Why PE funds like Blackstone, CPPIB & Macquarie are betting big on shopping malls
Having made good money in office property investments, a clutch of leading private equity funds is now out shopping for malls. Blackstone, sources say, is mulling two acquisitions ? in Bengaluru and Surat ? having picked up two malls from Gurgaon-based Alpha G Corporation, in Amritsar and Ahmedabad. The PE giant, which was focused on office space for the last four years, recently snapped up L&T Realty?s Seawoods Mall in Navi Mumbai. Again, after GIC bought into Viviana Mall in Mumbai earlier this year, Xander is believed to be bidding for 2 million sq ft at GMR?s Gurgaon plot. Other funds that are eyeing retail property include CPPIB and Macquarie.
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