Ardian’s real estate investment arm has added an office asset to its portfolio in Germany.
Ardian Real Estate has paid an undisclosed sum to buy the Ritterhof office complex, located at Ritterstrasse 11 in Berlin-Kreuzberg.
The office and administration building was built during 1905 and 1906 and was modernised by the seller in 2015. Ardian Real Estate intends to upgrade the courtyards and common areas.
Nico Rheims, Managing director at Ardian Real Estat, said: “We expect to see continued demand for office space in Berlin that meets the needs of a changing work world and fulfils high sustainability standards.”
Rheims said the Ritterhof building complex is an ideal fit for the investment strategy of the Ardian Real Estate Europe Fund II fund which recently raised €1.2bn at its final close to mainly in office buildings in strategic locations in Europe.
The latest deal represents Ardian Real Estate’s eighth investment in Germany.
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