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A new 50-50 joint venture between Cushman & Wakefield and Mumbai-based Nuvama Asset Management is the first prime office fund to invest in India with a $360 million investment. (332 million euros)
The Nuvama and Cushman & Wakefield Management (NCW) venture is expected to close on its first round of PRIME Offices Fund funding in the coming months.
The fund aims to invest in newly built, completed and leased offices across smaller markets in high growth markets in India.
“Investors can take advantage of this opportunity as Cushman & Wakefield grows its presence in the fund management space,” said Matthew Bowe, Asia Pacific CEO of Cushman & Wakefield. We are pleased to partner with Nuvama.” Our global real estate expertise, combined with Nuvama’s local market knowledge and investment acumen, will create an unparalleled value proposition for investors. ”
Ashish Kehair, Managing Director and CEO of Nuvama Group, said: “Commercial real estate is a direct beneficiary of India’s growth and attracts high-quality institutional investors from around the world.
“We are seeing increased interest from domestic investors, which has so far remained an experimental endeavor for most investors due to the lack of a large enough local fleet in the pre-real estate investment trust space. is watching.”
Anshu Kapur, President and Head of Nuvama Asset Management, said: “There is a huge opportunity for offices in India, doubling every 10 years. Global institutional investors have taken the lead in defining strategies to successfully invest in this sector.
“The majority of domestic investors remain under-allocated to this segment or participate through fragmented ownership without access to the operational capabilities needed to manage these real assets. .”
Anshul Jain, Managing Director, India and Southeast Asia and Head of Asia Pacific Tenant Representation, Cushman & Wakefield “We will now be able to offer investors unparalleled access to a diverse range of offices.” High yield real estate opportunities.
“Our deep industry knowledge, proven track record and experienced team provide investors with the confidence and expertise they need to succeed.”
Click here to read the latest IPE Real Assets magazine.
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