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Real estate investment platform Nuvama and Cushman & Wakefield Management Pvt Ltd (NCW) has achieved the final close of its PRIME Offices Fund at approximately INR 4,000 crore, exceeding its initial target of INR 3,000 crore following strong investor demand. The fund, launched to provide Indian investors with access to institutional-grade commercial office assets, has already committed around 45% of its capital across office properties in major cities. According to NCW, the fund has built a portfolio of nearly 4 million sq ft of premium office space since its launch. The company attributed investor interest to continued demand for high-quality office assets, supported by the expansion of Global Capability Centres (GCCs) and sustained growth in India's commercial real estate market.
Real estate investment platform Nuvama and Cushman & Wakefield Management Pvt Ltd (NCW) has announced the final close of its PRIME Offices Fund at approximately INR 4,000 crore, surpassing its original fundraising target of INR 3,000 crore. The fund has already committed around 45% of its capital across commercial office assets in major Indian cities.
NCW is an equal joint venture between Nuvama Asset Management and Cushman & Wakefield. The PRIME Offices Fund was established to provide Indian investors with access to institutional-quality commercial office assets across the country.
According to the company, the fund size was increased from its original target following strong investor participation and the pace of capital deployment across India's office real estate market. The company stated that investor demand and the availability of investment opportunities led to the decision to expand the corpus beyond the initial objective.
Since its launch, the fund has assembled a portfolio comprising approximately 4 million sq ft of Grade A office space across multiple cities. NCW said the investments have been made in high-quality commercial office assets that align with the fund's investment strategy.
The company also confirmed that nearly 45% of the total capital raised has already been committed, reflecting ongoing deployment into office properties.
Commenting on the fund's final close, Gaurav Puri, Chief Investment Officer at NCW, said the successful fundraising demonstrated investor confidence in both India's office sector and the fund's investment approach. He noted that India's commercial office market continues to be supported by structural growth drivers, including the expansion of Global Capability Centres (GCCs), the growth of front-office operations by multinational companies and sustained occupier demand for high-quality workplaces.
The company believes these factors continue to underpin investment activity in India's commercial real estate market, particularly in institutional-grade office assets located across established business districts.
The successful close of the fund comes amid continued institutional interest in India's office market, where leasing activity has remained supported by corporate expansion and the increasing presence of global occupiers. NCW's latest fundraising reflects sustained investor appetite for income-generating commercial real estate assets despite evolving market conditions.
With a corpus of approximately INR 4,000 crore and nearly half of the capital already committed, the PRIME Offices Fund has expanded beyond its original fundraising objective and continues to deploy capital into office assets across key Indian markets.
Source - PTI
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