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Prime Offices Fund, jointly managed by Nuvama and Cushman & Wakefield (NCW), has acquired 'Prius Platinum', a 3 lakh sq ft Grade A office property in South Delhi's Saket District Centre for approximately INR 700 crore. The asset, 95% leased, was earlier acquired via IBC by a Kotak-led consortium and has since undergone significant upgrades. This acquisition aligns with the fund's strategy of investing in sustainable, high-quality commercial assets in major urban hubs. With strong rental income potential, the deal reflects growing investor appetite for institutional-grade real estate. NCW aims to democratise access to premium assets while advancing ESG and operational excellence.
Prime Offices Fund, a commercial real estate-focused vehicle jointly managed by Nuvama and Cushman & Wakefield (NCW), has expanded its portfolio by acquiring a 3 lakh sq ft premium office property in South Delhi's Saket District Centre. The acquisition, concluded earlier this week, was valued by sources at approximately INR 700 crore and is aimed at bolstering the fund's presence in high-yield commercial real estate. Advertisement
NCW, the joint venture entity between Nuvama Asset Management Ltd and global real estate consultancy Cushman & Wakefield, disclosed that the acquired asset is 'Prius Platinum'-a Grade A office property that is currently 95% leased. Though the official deal value was not disclosed by NCW, industry insiders pegged the transaction in the vicinity of INR 700 crore.
The property was originally taken over by a Kotak Alternate Asset Managers Ltd-led consortium via the Insolvency and Bankruptcy Code (IBC) mechanism back in 2021. Since then, the asset has witnessed a complete transformation including infrastructural upgrades, ESG-aligned improvements, and enhancements in operational efficiency.
According to NCW, this acquisition resonates strongly with the Prime Offices Fund's core philosophy of investing in sustainable, high-quality commercial assets in India's key urban markets. The fund seeks to generate stable rental income while also offering institutional-grade investment opportunities to domestic investors.
Gaurav Puri, Chief Investment Officer of NCW, noted that the asset aligns perfectly with the fund's vision. He highlighted that, with India's commercial real estate fundamentals remaining robust, this acquisition represents a significant step towards delivering world-class investment solutions tailored for a new generation of investors.
NCW functions as a 50:50 joint venture between Nuvama Asset Management-part of Nuvama Wealth Management's alternatives-focused arm-and Cushman & Wakefield. The venture offers end-to-end solutions for investments in commercial real estate and aims to democratise access for Indian investors to premium-grade properties. The Prime Offices Fund received SEBI approval in 2024 and completed its first close in 2025.
NCW's methodical focus on sustainability and institutional ownership reflects a broader industry trend towards structured, compliant, and investor-friendly real estate models. As the fund deepens its presence in high-performing markets, this move not only augments its existing portfolio but also sets a precedent for similar large-scale, value-driven acquisitions in the near future.
Source - PTI
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