Ardian sells office building in Berlin’s City West district
Ardian, a private investment firm, which recently announced that it had entered GreenYellow as a majority shareholder, has announced the sale of an office building to an institutional investor at Spichernstrasse 2 in Berlin’s City West district. Built in 1993, the property is located in the heart of Berlin and has approximately 13,000 sqm of leasable space.
The Ardian Real Estate team acquired the property in 2018 and has since overseen an extensive renovation of the building. In particular, the lobby, common areas and rooftop terrace have been significantly renovated, along with additional investments to improve the asset’s infrastructure.
The work undertaken by Ardian has led to the building receiving a WiredScore Gold rating, which encompasses very high quality digital infrastructure and a very reliable internet connection. The asset has also achieved a BREEAM “very good” rating. BREEAM is a certification scheme established in the real estate sector to assess the sustainability of buildings.
In addition, the building is already 95 per cent occupied, and Ardian has agreed new long-term leases with several tenants, including the Berufsgenossenschaft für Gesundheitsdienst und Wohlfahrtspflege (BGW) and the real estate companies KVL and TenBrinke.
According to Nico Rheims, CEO of Ardian, “The sale of the office building in Berlin’s Spichernstrasse confirms that quality, sustainability and location stand out even in a challenging market context. The newly awarded certifications also reflect two of our focus areas in real estate development: sustainability and digital infrastructure.”
