Ardian, a world-leading private investment house, today announced it has signed an agreement to acquire an office building located close to the listed Lützowplatz square between Berlin City-West and Berlin-Mitte, the two most sought-after office submarkets in Berlin. It represents one of the largest office transactions in the value-add segment Berlin in 2024.
The building was comprehensively renovated in 2001 and offers currently c. 9.500sqm of lettable space over 9 stories of which c. 80% is rented. Ardian aims to invest a double digit million Euro sum to fully modernize and carefully densify the project. In course of the refurbishment, Ardian will upgrade the asset’s ESG footprint to meet modern standards, supporting the climate goals of the Paris Climate Agreement. Furthermore, Ardian will add various amenities to the project to increase the attractiveness of the building.
“We are pleased to announce the purchase of this office project as it is testament to a starting comeback of value-add office space transactions in Berlin, a market segment that has been rather quiet in the past three years. At this prime location in Berlin-Mitte, we are planning a comprehensive repositioning with a particular focus on quality and sustainability. We are convinced that these factors – quality, location and sustainability – will remain key drivers of the rental and investment market in the future, and we therefore continue to seize opportunities in office buildings as an asset class.” Nico Rheims, Managing Director Real Estate, Ardian
Ardian was advised in the transaction by Arup, BNP Real Estate, Clifford Chance, KVL and Taxess.
ABOUT ARDIAN
Ardian is a world-leading private investment house, managing or advising $169bn of assets on behalf of more than 1,680 clients globally. Our broad expertise, spanning Private Equity, Real Assets and Credit, enables us to offer a wide range of investment opportunities and respond flexibly to our clients’ differing needs. Through Ardian Customized Solutions we create bespoke portfolios that allow institutional clients to specify the precise mix of assets they require and to gain access to funds managed by leading third-party sponsors. Private Wealth Solutions offers dedicated services and access solutions for private banks, family offices and private institutional investors worldwide. Ardian’s main shareholding group is its employees and we place great emphasis on developing its people and fostering a collaborative culture based on collective intelligence. Our 1,050+ employees, spread across 19 offices in Europe, the Americas, Asia and Middle East are strongly committed to the principles of Responsible Investment and are determined to make finance a force for good in society. Our goal is to deliver excellent investment performance combined with high ethical standards and social responsibility. At Ardian we invest all of ourselves in building companies that last.
