Nexus Select Trust enters Northeast with Rs 1,600 crore Guwahati mall and Hyatt deal
Nexus Select Trust will acquire Galaxy Complex in Guwahati for Rs 1,600 crore, adding a 0.5 million sq ft mall and a 164-key Hyatt Regency upon completion and approvals. The transaction anchors its Northeast entry and advances its East India growth pipeline.
What happened
Nexus Select Trust will acquire a 100% stake in Guwahati’s upcoming Galaxy Complex for Rs 1,600 crore, gaining a 0.5 million sq ft mall and 164-key Hyatt
Key facts
- Rs 1,600 crore purchase consideration
- 100% stake acquisition
- 0.5 million sq ft Nexus Galaxy Mall
- 164-key Hyatt Regency hotel
- 8.25%-8.50% mall acquisition cap rate
- 11.5x-12.5x hotel EBITDA multiple
- Post-acquisition LTV below 20%
- 19 existing assets
- 6 East India pipeline assets
- Approximately 3.6 million sq ft East India pipeline
- Over Rs 600 crore targeted East India NOI
- Over 25% of existing portfolio NOI
- Over 50 million Northeast regional population
- Over 2 million Guwahati population
- $7,000 Guwahati per-capita income
- 45% of Assam GSDP
Why this matters
The deal uses an under-development mall-and-hotel asset to establish Nexus Select Trust’s first Northeast foothold, signaling scope for further regional portfolio consolidation.
What to watch
- Transaction closing and receipt of required regulatory, development and operating approvals.
- Construction milestones, mall and Hyatt opening dates, and any change in project capex.
- Pre-lease percentage, anchor-tenant announcements and reported tenant mix.
- Initial occupancy, trading density, footfall and rental yields after opening.
- Hyatt management agreement details, hotel occupancy, ADR and convention/wedding booking traction.
- Competing organised retail projects in Guwahati and infrastructure upgrades affecting regional catchment access.
- Nexus disclosures on acquisition funding, leverage, distribution impact and future East India pipeline.
- Prioritise pre-leasing with anchor department stores, multiplex, supermarket, international apparel, beauty and experiential F&B operators.
- Use the Guwahati asset to negotiate Northeast store-cluster expansion commitments from existing national tenants.
- Coordinate Hyatt opening, mall launch and event programming to build destination footfall before full retail stabilisation.
- Pursue adjacent East India and Northeast acquisitions or development partnerships once the Guwahati platform demonstrates leasing traction.
- Invest in transport access, parking, digital discovery and local-language marketing to widen the catchment beyond Guwahati.