Deal strengthens focus on income-yielding, pre-leased commercial real estate.

ICICI Prudential AMC Acquires Nine Floors in Mumbai’s VIOS Tower for ₹525 Crore.

ICICI Prudential Asset Management Company (ICICI Prudential AMC) has acquired nine floors in VIOS Tower, Wadala, Mumbai, for over ₹525 crore through its ₹2,500-crore Alternate Investment Fund—ICICI Prudential Office Yield Optimiser Fund II. The acquisition from global asset manager Varde Partners covers more than 3 lakh sq ft of fully leased office space across the ground to eighth floors. The asset is expected to deliver an annual yield of over 8–9%, supported by long-term leases with a 5% annual rental escalation. This marks the fund’s seventh commercial acquisition, reinforcing its strategy of investing in completed, income-generating offices in top Indian markets. Varde Partners had earlier acquired the tower via NCP Commercial from Lodha Group in 2019 and partially divested it to Federal Bank and Trent Ltd. According to Rohit Rathi, such real income-yielding assets help build resilient investor portfolios amid market uncertainty.