Investment firm Ardian is acquiring a 9,500 square metres value-add office building in Germany’s capital.
Ardian said it has agreed to buy the Berlin office building located near Lützowplatz without disclosing the purchase amount, but added that the acquisition is one of the largest value-add office deals in Berlin this year.
The building, which was renovated in 2001, is currently 80% leased, and Ardian plans to invest a ”double digit million euro sum” to fully modernise and densify the property.
Source: realassets.ipe.com on the 14th of November, 2024
https://realassets.ipe.com/news/ardian-expands-german-portfolio-with-9500sqm-berlin-office-building/10076814.article