Prime Offices Fund Expands Portfolio with Pune Acquisition

Prime Offices Fund has acquired a 51% stake in a Grade A+ commercial asset in Pune's Kharadi area, expanding its portfolio to 3.8 million sq. ft. across multiple Indian cities. Managed by Nuvama and Cushman & Wakefield, the acquisition highlights strategic investment in high-growth micro-markets.

Prime Offices Fund has strategically expanded its real estate portfolio with the acquisition of a 51% stake in a high-quality commercial asset in Pune. The Grade A+ office space, totaling 1.1 million square feet, demonstrates Prime's commitment to investing in India's high-growth markets.

The acquisition in Pune's Kharadi area marks Prime's entry into its third Indian city, adding to its growing real estate footprint across Delhi-NCR, Chennai, and now Pune. Market sources indicate that the transaction's value is close to Rs 1,000 crore, although the fund has not disclosed the exact amount.

Gaurav Puri, Chief Investment Officer at NCW, emphasized their focus on building a portfolio of premium assets that promise long-term demand and value creation for investors. This acquisition follows previous purchases in Delhi and Chennai, further solidifying Prime's presence in key office markets.