Unlocking value with hands-on asset management
Stéphanie Bensimon, Managing Director, Ardian Real Estate France
Bernd Haggenmüller, Managing Director, Ardian Real Estate Germany
Rodolfo Petrosino, Managing Director, Ardian Real Estate Italy
Ardian Real Estate has fully deployed its debut European fund, the largest first-time Real Estate fund ever raised in Europe at €738m. The multilocal investment team, operating from offices in Frankfurt, Milan and Paris, have followed an innovative Core-Plus, Value-Added strategy targeting well-located office buildings in key European cities.
The teams’ local knowledge and extensive contacts allow them to identify properties where focused investment and active asset management can unlock significant increases in both capital values and rental yields. In Value-Add transactions this involves refurbishment creating international-quality office space in sought-after districts where it is in short supply. Core-Plus deals focus on more minor upgrades to improve the leasing potential of the building and realize higher rental income. The fund holds approximately 51% of its assets in France, 16% in Germany and 33% in Italy.
Ardian Real Estate has developed a proprietary, industry-leading ESG benchmarking system that it applies from due diligence through the holding period. This approach has already helped to achieve the fund’s first two exits at above-target rates of return.
“The cities we concentrate on are experiencing faster growth than the overall economies of their countries, and this is fueling demand for high-quality office space.”