Nuvama Buys Chennai Office Campus for Rs 2,550 Cr

New Delhi, Sep 25 (PTI) Nuvama and Cushman & Wakefield-backed realty fund has acquired an office campus, spread over 24 lakh sq ft area, in Chennai from Singapore-based Keppel group for Rs 2,550 crore.

Nuvama and Cushman & Wakefield Management Pvt Ltd (NCW) is a 50:50 joint venture between Nuvama Asset Management and global real estate services firm Cushman & Wakefield.

According to a statement on Thursday, NCW's flagship fund 'Prime Offices Fund' (PRIME) has acquired a 2.4 million (24 lakh) sq ft office campus located in Porur, Chennai.

"The asset was acquired through a 100 per cent buyout from Keppel's real estate division, at a transaction value of approximately Rs 2,550 crore," it added.

PRIME marked its first close in 2025. The fund targets investments in prime commercial office assets across key high-growth micro-markets in India.

"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," Gaurav Puri, Chief Investment Officer of NCW, said.