Xander-Dutch APG venture buys two Tata Realty malls for Rs 700 crore

Currently, VRSA has 5.4 million sq ft of properties across Surat, Bengaluru, Chennai, and Punjab.

Virtuous Retail South Asia (VRSA), a joint venture between private equity fund Xander and Dutch pension fund APG, has bought malls from Tata Sons-owned real estate company Tata Realty & Infrastructure for about Rs 700 crore. The properties are based in Amritsar, Punjab, and in Nagpur, Maharashtra.

The 1-million sq ft Trilium Mall is spread across 5.5 acres in Amritsar while the 700,000 sq ft property is based in Nagpur. The acquisition would help VRSA to surpass its portfolio to that of Blackstone-owned Nexus Malls, which has a portfolio of six million sq ft. Currently, VRSA has 5.4 million sq