Ardian, a world-leading private investment house, has announced the sale of an office building at Spichernstrasse 2 in the City West district of Berlin to an institutional investor. Built in 1993, the property is located in the heart of Berlin, and has around 13,000 sqm of rental space.
Ardian’s 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 the roof terrace have all been significantly renovated, with additional investments being made in improving the infrastructure of the asset.
Consequently, the property has received a “WiredScore Gold” rating, which signifies very high-quality digital infrastructure and a highly reliable Internet connection. The asset has also achieved a “very good” BREEAM score – BREEAM is a certification system established in the real estate industry for assessing the sustainability of buildings.
In addition, the building is now 95% occupied, with Ardian having agreed long-term new and follow-on leases with a number of tenants, including the Berufsgenossenschaft für Gesundheitsdienst und Wohlfahrtspflege (BGW) and the companies KVL and TenBrinke, which are active in the real estate sector.
The parties have agreed not to disclose financial details of the transaction.
Source : Company