NCW Prime Buys Delhi Office for Rs 7.5 Billion

28 May 2025 CW Team

NCW Prime Offices Fund, managed by Nuvama and Cushman & Wakefield Management Pvt Ltd, has acquired a premium 0.3 million square foot commercial property in South Delhi’s Saket for around Rs 7.5 billion.

The asset, Prius Platinum, was acquired from a Kotak-led consortium that originally took over the property through the Insolvency and Bankruptcy Code process in 2021. Since then, the building has undergone upgrades, sustainability improvements, and operational enhancements, leading to strong leasing activity.

Currently, the property is ninety-five per cent leased, generating rental income of around Rs 50 to 60 million per month. The asset has a weighted average lease expiry of five years and includes tenants from legal, pharma, and financial sectors, offering stable long-term income.

The acquisition aligns with the Prime Offices Fund’s strategy to invest in high-quality, ESG-compliant commercial assets across India’s top markets. This is the fund’s first major investment since receiving Securities and Exchange Board of India approval in 2024 and completing its first close in 2025.

JLL India acted as transaction advisor for the deal. The fund targets institutional-grade income-generating properties and aims to broaden access for domestic investors.

Source: HT Real Estate News

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