Prime Offices Fund Acquires Prius Platinum, a Grade A Office in Delhi

Prime Offices Fund’s Landmark Acquisition in Delhi

In a major move for India’s commercial real estate sector, the Prime Offices Fund (PRIME), managed by Nuvama and Cushman & Wakefield (NCW), has acquired the premium Grade A office property, Prius Platinum, in South Delhi’s Saket District Centre. The acquisition, valued at approximately ₹750 crore, was made from a consortium led by Kotak Alternate Asset Managers Limited and marks a significant milestone for the fund’s portfolio and strategy.

Transformation and Value Creation

Prius Platinum, spanning 3 lakh sq ft, was initially acquired by the Kotak consortium through the IBC process in 2021. Since then, the property has undergone a comprehensive transformation—upgrades, ESG initiatives, and operational enhancements have elevated it into a modern, sustainable commercial hub. This transformation has driven a surge in leasing activity, positioning the asset as a benchmark for value creation and sustainability-driven investments in the sector.

Stable Income and Marquee Tenants

The property is now 95% leased, providing stable rental income with a weighted average lease expiry (WALE) of five years and secure lock-in periods. Its tenant roster features leading names from India’s legal, pharmaceutical, and financial sectors, ensuring long-term income stability and reinforcing PRIME’s focus on high-quality assets in prime commercial hubs.

Strategic Vision and Industry Impact

This acquisition aligns perfectly with PRIME’s strategy of building a sustainable, income-generating portfolio of top-tier office spaces across India. “We are excited to acquire Prius Platinum. This rare, institutionally owned asset perfectly aligns with the Prime Offices Fund’s (PRIME) strategy of creating a high quality, sustainable, income-generating portfolio,” said Gaurav Puri, CIO of NCW. The transaction also highlights Kotak’s asset management capabilities and their commitment to sustainability-focused strategies, as noted by Rahul Chhaparwal of Kotak Alternate Asset Managers Limited.

About the Stakeholders

NCW is a 50:50 joint venture between Nuvama Asset Management and Cushman & Wakefield, offering full-spectrum investment capabilities in commercial real estate. The Prime Offices Fund received SEBI approval in 2024 and completed its first close in 2025, targeting investments in high-growth office assets across India’s key markets. Kotak Alternate Asset Managers Limited, part of the Kotak Mahindra Group, has a robust track record in alternate asset management and value-driven real estate strategies.