Nuvama-Cushman Fund Closes ₹2,550 Crore Acquisition of Chennai's Porur Office Campus from Keppel in Landmark Deal

Nuvama-Cushman Fund Completes ₹2,550 Crore Chennai Office Campus Acquisition from Keppel in One of India's Largest Fund-Led Transactions

A domestic real estate investment fund, jointly managed by Nuvama Asset Management and Cushman & Wakefield, has successfully completed the acquisition of a fully leased office campus located in Porur, Chennai, from Singapore-based Keppel Group for an estimated ₹2,550 crore. The transaction, which involved approximately 2.4 million square feet of premium office space, has been described as one of the largest office property acquisitions in India executed by a domestic fund.

Second Major Acquisition by PRIME Fund

The acquisition was executed through the Prime Offices Fund (PRIME), a strategic joint venture between Nuvama and Cushman & Wakefield. This deal represents the fund's second significant investment move, following an earlier Delhi property acquisition completed earlier this year. The Porur campus, which has achieved LEED Platinum certification for sustainability, houses a diverse mix of tenants including global capability centres and technology companies, ensuring stable rental income streams.

Strategic Focus on Premium Assets in Key Micro-Markets

According to statements from the fund management team, this transaction reinforces their strategic approach of building a portfolio centered on high-quality, sustainable commercial assets in India's leading office micro-markets. The fund has identified Chennai, particularly the Porur corridor, as a high-growth node characterized by strong occupier demand, robust connectivity infrastructure, and solid real estate fundamentals. The acquisition reflects growing investor confidence in Chennai's office market potential, which continues to attract both domestic and international capital.

Industry observers noted that the deal underscores the increasing appetite among domestic institutional investors for Grade-A office assets in Tier-I and emerging Tier-II cities. The transaction also highlights the ongoing consolidation trend in India's commercial real estate sector, where professionally managed funds are actively acquiring stabilized, income-generating properties.

The Porur office campus benefits from its strategic location along Chennai's western corridor, which has emerged as a preferred destination for multinational corporations and technology firms seeking quality office infrastructure. The area's connectivity to key residential neighborhoods, IT hubs, and transportation networks has been instrumental in driving occupancy rates and rental values.

Disclaimer: The information provided in this article is based on available reports and statements from the parties involved in the transaction. While every effort has been made to ensure accuracy, readers are advised to independently verify details before making any investment or business decisions. This article is for informational purposes only and should not be construed as investment advice. Market conditions, property valuations, and transaction specifics are subject to change and verification.