Prime Offices Fund Acquires 300,000 sq ft Delhi Commercial Asset for Rs 760 Crore in Landmark Deal
Prime Offices Fund, a joint venture between Nuvama Asset Management and Cushman & Wakefield Management Pvt. Ltd. (NCW), has acquired the 300,000 sq ft Prius Platinum commercial property in South Delhi’s Saket District Centre for approximately Rs 760 crore.
Originally acquired by a Kotak Alternate Asset Managers-led consortium through the Insolvency and Bankruptcy Code (IBC) process in 2021, the property has since undergone significant transformation, including extensive upgrades and the adoption of ESG (Environmental, Social, and Governance) initiatives. These efforts have resulted in a high-quality, Grade A+ office building with a 95% occupancy rate and a weighted average lease expiry (WALE) of five years, providing stable rental income estimated between Rs 60–70 crore annually.
This acquisition aligns with Prime Offices Fund’s strategy of building a sustainable, income-generating portfolio in India’s top commercial real estate markets. The fund, which received SEBI approval in 2024 and closed its first fundraising round of Rs 1,700 crore in early 2025, focuses on Grade A+ office assets across key cities including Delhi-NCR, Bengaluru, Mumbai, Pune, Chennai, and Hyderabad.
The deal highlights the maturing Indian commercial real estate sector, demonstrating how distressed assets acquired via IBC can be successfully revitalized through disciplined asset management and sustainability-focused strategies. It also underscores growing investor interest in institutional-grade properties offering long-term income stability and ESG compliance.
NCW, a 50:50 joint venture combining Nuvama’s domestic investment expertise with Cushman & Wakefield global real estate capabilities, continues to expand its footprint by unlocking high-quality commercial assets for domestic investors.
