Prime Offices Fund acquires office asset in Pune for Rs.1,000-Cr

Prime Offices Fund, a commercial real estate-focused fund managed by Nuvama and Cushman & Wakefield Management (NCW), has acquired Keppel TenSteps , an office asset spread over 1.1 million sq ft in Pune’s Kharadi locality. The acquisition was done through a joint venture structure, with Prime holding a 51% stake and Keppel retaining the balance. The deal is valued at INR 1,000 crore.This acquisition marks Prime”s entry into its third city and will scale its portfolio to 3.8 million sq. ft across Delhi NCR, Chennai and Pune. NCW's portfolio Gross Asset Value (GAV) is over INR 4,000 crore now.