Key Takeaways
- • Prime Offices Fund acquired Prius Platinum, a Grade A office property in South Delhi's Saket District Centre, for ₹750 crore, marking the fund's debut acquisition.
- • The 300,000 sq ft property is 95% leased and has achieved ESG certification, positioned as a premium commercial asset with stable rental income characteristics.
- • The transaction involved a divestment from a fund managed by Kotak Alternate Asset Managers Ltd consortium, facilitated by JLL, with Prime Offices Fund managed by Nuvama and Cushman & Wakefield.
- • The acquisition represents a successful value creation exit from a previously distressed commercial asset that was acquired under the Insolvency and Bankruptcy Code (IBC) and transformed into a marquee-grade property with top-tier tenants.
Summary
Prime Offices Fund completed its inaugural acquisition on May 27, 2025, purchasing Prius Platinum, a premium Grade A office property located in South Delhi's Saket District Centre, for ₹750 crore. The transaction marks a significant milestone for the fund, which is managed by Nuvama and Cushman & Wakefield.
Prius Platinum spans 300,000 sq ft and currently maintains a 95% occupancy rate, providing investors with established rental income streams. The property has been certified for ESG compliance and positioned as a marquee-grade commercial asset, meeting institutional-grade standards for institutional investors and asset managers seeking exposure to India's premium office market.
The property was divested by a fund managed by Kotak Alternate Asset Managers Ltd consortium, with the transaction facilitated by JLL. According to statements from transaction stakeholders, the asset represents a significant value creation story. The property was originally acquired as a distressed commercial asset under the Insolvency and Bankruptcy Code framework, subsequently rehabilitated and repositioned as a fully leased, ESG-certified property attracting premium tenants.
The acquisition reflects growing institutional capital flow into India's commercial real estate sector, particularly for stabilized, income-generating office assets. The transaction's emphasis on ESG certification and tenant quality aligns with institutional investor preferences for sustainable, long-term income-producing real estate assets. Prime Offices Fund's debut acquisition in the Delhi NCR market positions the vehicle within India's institutional-grade office real estate segment, targeting steady cash flows from India's expanding corporate office demand.
Prius Platinum spans 300,000 sq ft and currently maintains a 95% occupancy rate, providing investors with established rental income streams. The property has been certified for ESG compliance and positioned as a marquee-grade commercial asset, meeting institutional-grade standards for institutional investors and asset managers seeking exposure to India's premium office market.
The property was divested by a fund managed by Kotak Alternate Asset Managers Ltd consortium, with the transaction facilitated by JLL. According to statements from transaction stakeholders, the asset represents a significant value creation story. The property was originally acquired as a distressed commercial asset under the Insolvency and Bankruptcy Code framework, subsequently rehabilitated and repositioned as a fully leased, ESG-certified property attracting premium tenants.
The acquisition reflects growing institutional capital flow into India's commercial real estate sector, particularly for stabilized, income-generating office assets. The transaction's emphasis on ESG certification and tenant quality aligns with institutional investor preferences for sustainable, long-term income-producing real estate assets. Prime Offices Fund's debut acquisition in the Delhi NCR market positions the vehicle within India's institutional-grade office real estate segment, targeting steady cash flows from India's expanding corporate office demand.
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