Nuvama-Cushman Fund Acquires Rs 2,550 cr Chennai Office Campus

Nuvama-Cushman Fund has acquired a 2.4 million sq ft office campus in Chennai from Keppel for Rs 2,550 crore, marking the largest office transaction by a domestic fund. The deal highlights Prime's focus on future-ready, sustainable assets in key micro-markets, strengthening its ability to deliver resilient returns. The acquisition underscores the fund's push to offer global-standard investments for Indian investors.

Nuvama-Cushman Fund, a joint venture between Nuvama Asset Management and global real estate services firm Cushman & Wakefield, has acquired a 2.4 million sq ft office campus in Chennai from Singapore-based Keppel for Rs 2,550 crore. This transaction marks the largest office acquisition by a domestic fund, according to industry experts.

The acquisition was facilitated by Prime Offices Fund (PRIME), the flagship fund of the joint venture, which aims to invest in prime commercial office assets across key high-growth micro-markets in India. The fund targets assets that reflect the evolving priorities of global occupiers, including sustainability, agility, and institutional-grade quality Nuvama, C&W-backed fund buys ₹2,550-cr Chennai office campus from Keppel^[1].

Gaurav Puri, Chief Investment Officer of NCW, commented on the acquisition, stating, "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" Nuvama, C&W-backed fund buys ₹2,550-cr Chennai office campus from Keppel^[1].

The deal underscores the fund's focus on future-ready, sustainable assets in key micro-markets, strengthening its ability to deliver resilient returns. The acquisition also highlights the fund's push to offer global-standard investments for Indian investors.

The office campus, located in Porur, Chennai, was acquired through a 100 per cent buyout from Keppel's real estate division at a transaction value of approximately Rs 2,550 crore. The acquisition comes after PRIME marked its first close in 2025 and is the second acquisition under the fund Nuvama, C&W-backed fund buys ₹2,550-cr Chennai office campus from Keppel^[1].

This transaction is significant for the Indian real estate market, as it demonstrates the increasing interest of domestic funds in acquiring large-scale office properties. The acquisition also highlights the growing demand for sustainable and future-ready office spaces in key micro-markets.