Prime Offices Fund (PRIME), a commercial real estate fund managed by Nuvama and Cushman & Wakefield Management Pvt Ltd (NCW), has acquired a 2.4 million square feet office campus in Chennai from Singapore-based Keppel, the company said Thursday in a statement.
Prime Offices Fund acquired the asset for about Rs 2,550 crore ($287 million).
The deal marks PRIME’s second acquisition and a significant milestone in its strategy to build a portfolio of future-ready, high-quality office assets across India’s fastest-growing micro-markets.
The fund had made its maiden investment in May this year, acquiring a commercial asset in New Delhi’s Saket District Centre from a consortium led by Kotak Alternate Asset.
Located in Porur, Chennai, the campus is leased to a diverse tenant mix, comprising both Global Capability Centres (GCCs) and leading domestic technology firms.
“With this, we’re reinforcing our commitment to building a portfolio that reflects the evolving priorities of global occupiers,” said Gaurav Puri, chief investment officer at NCW. “Chennai continues to attract deep occupier interest especially from GCCs, and Porur stands out as a micro-market with long-term fundamentals. As we expand our footprint, our focus remains on high-quality ‘offices-of-the-future that meet the expectations of our investors and set new benchmarks for commercial real estate in India.”
NCW is a 50:50 joint venture between Nuvama Asset Management, the alternatives arm of Nuvama Wealth Management Ltd, and global real estate services firm Cushman & Wakefield. It offers full-suite capabilities for investing in commercial real estate and aims to open access for domestic investors to participate in high-quality real estate opportunities.
Its flagship fund, PRIME, marked its first close in 2025, and focuses on prime commercial office assets in key high-growth micro-markets across India.
