Chennai’s commercial real estate market has witnessed one of its biggest transactions in recent times. The Prime Office Fund, jointly managed by Nuveen and Cushman & Wakefield Management Pvt. Ltd., has acquired One Paramount, a 2.4 million sq. ft. office campus in Porur, for ₹2,550 crore. The asset was purchased from Kapell’s real estate division.
Strategically located in Porur, one of Chennai’s fastest-growing office corridors, One Paramount offers institutional-grade infrastructure, campus-style amenities, and strong connectivity to key residential and commercial hubs.
According to the fund, this acquisition reflects its strategy of investing in high-quality, performance-oriented assets in emerging micro-markets with strong long-term fundamentals.
Commenting on the deal, Gaurav Puri, Chief Investment Officer at NCW, said:
“This is our second acquisition under Prime, providing strong validation of our strategy and execution. As we expand our footprint, our focus will be on future-ready office spaces that meet investor expectations and set new benchmarks in India’s commercial real estate sector.”