Khaitan & Co advised Prime Offices Fund (PRIME), a commercial real estate focused fund managed by Nuvama and Cushman & Wakefield Management Pvt Ltd (NCW), in its acquisition of a marquee 2.4 million sq. ft. office campus located in Porur, Chennai. The asset was acquired through a 100% buyout from Keppel Ltd at transaction value of approximately INR 2,550 crores, marking PRIME’s second acquisition and a significant milestone in its strategy to build a portfolio of future ready, high-quality, ESG-compliant office assets across India’s fastest-growing micro-markets.
The deal was assisted by:
Corporate and Commercial: Harsh Khemka (Partner) and Avishek Banerjee (Senior Associate). Purva Phadke (Principal Associate) and Anadi Saxena (Senior Associate), Ruturaj Jere (Principal Associate) and Sanjana Dwivedi (Associate).
Indirect tax aspects: Mayank Jain (Partner) and Pranay Sahay (Principal Associate).
Real Estate: Kartik Shiv Kumar (Counsel) and Shambhavi Kashyap (Associate).
Banking and Finance: Rolwine Alva (Partner) and Arjun Gopalakrishnan (Principal Associate)
Employment Labour & Benefits related aspects: Deepak Kumar (Partner)
The core team consisted of Deepak Jodhani (Partner), Gautam Suseel (Partner), Atif Ahmed (Senior Associate), Aanchal Khandelwal (Associate) and Ishaan Nagarkatti (Associate)