Nuvama and Cushman & Wakefield-backed realty fund has acquired a 24-lakh sq ft office campus in Chennai from Singapore-based Keppel group for Rs 25.50 billion, marking one of the largest office space deals in the city.

The transaction was executed by Nuvama and Cushman & Wakefield Management (NCW), a 50:50 joint venture between Nuvama Asset Management and global real estate services firm Cushman & Wakefield. The acquisition was made through NCW’s flagship vehicle, the Prime Offices Fund (PRIME), which had marked its first close earlier in 2025.

The fully acquired asset, located in Porur, Chennai, was purchased from Keppel’s real estate division for approximately Rs 2,550 crore. Spread across 2.4 million sq ft, the campus significantly enhances the fund’s portfolio of institutional-grade commercial assets in India.

PRIME is focused on investments in premium commercial office properties across key high-growth micro-markets in the country. This marks the fund’s second major acquisition since its inception.

Commenting on the transaction, Gaurav Puri, Chief Investment Officer, NCW, said: “This second acquisition under PRIME is a strong validation of our strategy and execution. With this, we are reinforcing our commitment to building a portfolio that reflects the evolving priorities of global occupiers: sustainability, agility, and institutional-grade quality.”

News source: Business Standard