Prime Offices Fund (PRIME), a commercial real estate-focused fund managed by Nuvama and Cushman & Wakefield Management Pvt. Ltd. (NCW)—a joint venture between Nuvama Asset Management Ltd. and Cushman & Wakefield has completed the acquisition of a 2.4 million sq. ft. office campus in Porur, Chennai for ₹2,550 crore.
The asset, One Paramount, was acquired through a 100% buyout from Keppel’s real estate division, at transaction value of approximately ₹2,550 crores, marking PRIME’s second acquisition, NCW said in a statement.
The Campus is a LEED Platinum development, leased to a diversified tenant base comprising both Global Capability Centres (GCC) and domestic technology majors. Located in one of Chennai’s most attractive office corridors, the asset offers institutional-grade infrastructure, campus style amenities and excellent connectivity to key residential and commercial hubs.
The acquisition reflects PRIME’s strategy of backing future-ready, sustainable, and performance-driven assets in high-potential micro-markets that meet the evolving requirements of global occupiers. According to the fund, the property’s scale, green credentials, and marquee tenant mix enhance its ability to generate resilient returns and create long-term value for investors.
This transaction marks the largest trade executed by any domestic fund, in a space otherwise dominated by global capital pools.
Mr. Gaurav Puri, Chief Investment Officer, NCW, said, This second acquisition under PRIME is a strong validation of our strategy and execution. With this, we’re reinforcing our commitment to building a portfolio that reflects the evolving priorities of global occupiers: sustainability, agility, and institutional-grade quality. 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.
