Nexus Select Trust has announced its strategic entry into Northeast India with a ₹1,600-crore transaction to acquire the upcoming Galaxy Complex in Beharbari, Guwahati, comprising a 0.5 million sq. ft. Grade-A Nexus Galaxy Mall and a 164-key Hyatt Regency Hotel.

The transaction marks the first step in Nexus Select Trust's broader strategy to build a presence across the high-potential consumption markets of East and Northeast India, with Guwahati identified as a key gateway to the region.

Nexus Select Trust, India's first listed retail REIT and one of the country's largest owners of Grade-A urban consumption centres, will acquire a 100% stake in the upcoming development. The assets will be developed by the seller to mutually agreed specifications, with Nexus expected to assume operational responsibility once construction is completed and the required approvals are received. The transaction represents Nexus Select Trust's first under-construction development transaction in Northeast India and its second such transaction since listing.

Guwahati is emerging as a major retail and consumption hub for Northeast India, supported by urbanisation, rising household incomes and growing demand for organised retail and premium brands.

As the largest commercial centre and a key gateway to the region's eight Northeastern states, Guwahati serves a catchment extending beyond the city itself. The proposed development is located within a dense and affluent catchment and will provide Nexus with an entry into the relatively underpenetrated organised retail market of Northeast India.

The city has a population of more than 2 million and a per capita income of around US$7,000, while accounting for approximately 45% of Assam's Gross State Domestic Product, according to the company.

Nexus also highlighted the limited availability of Grade-A retail infrastructure in Guwahati, presenting an opportunity for the upcoming mall to serve growing consumer demand in the city and surrounding markets.

The total purchase consideration for the mall and hotel stands at ₹1,600 crore. The transaction implies an acquisition cap rate of 8.25–8.50% for the mall, while the hotel is valued at an 11.5–12.5x EBITDA multiple.

The consideration will be paid upon completion of construction and receipt of the necessary approvals. Nexus proposes to fund the acquisition through an estimated 40% debt raise, with the balance expected to come through fresh unit issuance and unit swap. The final funding structure will be determined at transaction closure.

The company expects the transaction to be Net Asset Value (NAV) and Distribution Per Unit (DPU) accretive upon acquisition. Following the acquisition, Nexus expects its Loan-to-Value (LTV) to remain below 20%, while retaining significant debt headroom for future inorganic growth opportunities.

According to Dalip Sehgal, Executive Director and Chief Executive Officer, Nexus Select Trust, the Guwahati transaction is part of the company's larger ambition to build a scaled presence across East India's key consumption markets.

The company currently has an East India pipeline comprising six Grade-A retail assets totalling approximately 3.6 million sq. ft. across four cities.

Sehgal said the portfolio expansion will enable Nexus to target key markets including Kolkata, Guwahati, Siliguri, Patna, Bhubaneswar, Ranchi and Jamshedpur, with an ambition to build an East India portfolio generating more than ₹600 crore in NOI and contributing over 25% of its existing portfolio NOI.

Gautam Vaswani, Chief Acquisition Officer, Nexus Select Trust, said the transaction allows the company to secure an asset in Northeast India without taking on development risk. He also highlighted the expected NAV and DPU accretion and the Trust's post-acquisition LTV remaining below 20%.

The upcoming Galaxy Complex has been envisioned as a mixed-use development bringing together retail, hospitality, commercial and residential infrastructure.

Manoj Kayal and Deepak Kayal, Promoters, Galaxy Infra Creations Private Limited, said the partnership with Nexus would bring the platform's experience in owning and operating Grade-A urban consumption centres to the development, while Hyatt would contribute its global hospitality expertise.

The Guwahati project is expected to strengthen Nexus Select Trust's presence in East India while establishing its first foothold in the Northeast, with the company positioning the region as an important part of its longer-term growth strategy