Ardian has entered the German residential real estate market through a partnership with asset management platform Reneo which aims to invest an initial €100m in projects by the end of 2026.
The value-add partnership has acquired a 4,000sqm residential asset in Frankfurt-Ginnheim. The property, which will undergo modernisation and upgrades, was acquired from the insolvency estate of a fund managed by dii Deutsche Invest Immobilien, Ardian said.
Moritz Pohlmann, director real estate, Ardian, said: “In Germany, the tight housing market is keeping demand steady and offering investors attractive opportunities for value creation, especially in existing properties that require modernisation.
“With Reneo, we’ve chosen the operating partner with the strongest track record in residential refurbishment and a high digital presence. The property we’ve just acquired in Frankfurt is a great example of the kind of investments we’re looking for.”
Bernd Haggenmüller, senior managing director real estate, Ardian, said: “We continue to diversify our investment activities in the real estate sector.
“While our initial focus in Germany’s residential segment is on value-add properties, we also see attractive opportunities in the core and core+ segments, which we intend to evaluate and realise together with Reneo.“
Lennart Börner and Alexander Graubner-Müller, founder and co-CEOs, Reneo, said: “The partnership with the leading European private equity house Ardian is an important milestone in the further development of Reneo. It underlines our expertise in ESG and digitalisation in the residential sector and at the same time marks the first opening to additional investors.
“This strategic operating partnership is another important step in building the leading scalable and digital investment platform that combines modern asset management with sustainable real estate development.“
To read the latest IPE Real Assets magazine click here.
