Prime Offices Fund Secures ₹750 Crore with Strategic Delhi Office Purchase
Prime Offices Fund, managed by Nuvama and Cushman & Wakefield, makes its debut with the acquisition of a prime Grade A office property in Delhi. The fund aims to capitalize on India's robust commercial real estate market.
Commercial Real EstatePrime Offices FundNuvamaCushman WakefieldReal Estate InvestmentReal Estate NewsMay 27, 2025
The property, which is 95% leased to multiple tenants, was purchased from a fund managed by a Kotak Alternate Asset Managers Ltd-led consortium, according to a source familiar with the matter. The 0.3 million sq. ft building was earlier acquired by the Kotak-led group through the Insolvency and Bankruptcy Code (IBC) process in 2021 and underwent extensive upgrades to meet institutional standards.
“This rare, institutionally owned asset perfectly aligns with the Prime Offices Fund’s strategy of creating a high-quality, sustainable, income-generating portfolio,” said Gaurav Puri, Chief Investment Officer, NCW. “With India’s commercial real estate sector continuing to show strong fundamentals, this acquisition marks an important milestone in delivering world-class investment solutions for our investors,” he added.
Rahul Chhaparwal, Partner at Kotak Alternate Asset Managers, commented that the exit validates their sustainability-led asset management strategy and ability to create long-term value for stakeholders. JLL India was the exclusive advisor to the transaction.
The Prime Offices Fund was launched with a ₹1,500 crore target corpus and an additional ₹1,500 crore green shoe option. The fund aims to offer investment opportunities in India’s growing commercial real estate market. NCW announced a ₹1,700 crore first close in January and is on track to raise the remaining ₹1,300 crore this year. The fund will focus on acquiring Grade A office properties in India’s top commercial hubs—Bengaluru, NCR, Pune, Mumbai, Chennai, and Hyderabad.
With this strategic acquisition, Prime Offices Fund is well-positioned to capitalize on the robust growth and demand in India’s commercial real estate sector, providing investors with a promising portfolio of high-quality, income-generating assets.
Frequently Asked Questions
What is the Prime Offices Fund?
The Prime Offices Fund (PRIME) is a real estate investment fund managed by Nuvama and Cushman & Wakefield (NCW). It aims to offer investment opportunities in India’s growing commercial real estate market.
What is the target corpus of the Prime Offices Fund?
The Prime Offices Fund was launched with a ₹1,500 crore target corpus and an additional ₹1,500 crore green shoe option, totaling a potential corpus of ₹3,000 crore.
What is the first acquisition of the Prime Offices Fund?
The first acquisition of the Prime Offices Fund is Prius Platinum, a prime Grade A office property in Delhi’s Saket District Centre, purchased for ₹750 crore.
Who managed the fund that sold Prius Platinum?
The property was purchased from a fund managed by a Kotak Alternate Asset Managers Ltd-led consortium.
What are the key cities targeted by the Prime Offices Fund?
The Prime Offices Fund will focus on acquiring Grade A office properties in India’s top commercial hubs, including Bengaluru, NCR, Pune, Mumbai, Chennai, and Hyderabad.
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