The French management company Ardian is probing the Spanish offices market, with the intention of investing 250 millions of euros in office buildings, through its new European real estate fund over the next two years.
Approximately 125 millions of euros would come from their own funds. Ardian is looking for opportunities in the most important business areas in the main cities Madrid and Barcelona.
The French company isn’t new to the Spanish market, but both Mid-Cap Buyout and Growth are infrastructure funds and this would be the first real estate investment. Ardian Real Estate was founded in 2015 and nowadays has over 16 assets in various cities in France, Italy and Germany.
738 millions in other cities
Its first fund, Areef I, invested 738 millions of euros in office spaces in Paris, Milan, Rome, Munich and Berlin. In the next coming months both Madrid and Barcelona should be added to the list.
A team of specialists, consisting of 19 professionals within the sector, recently opened an office in Madrid, run by Edmund Eggings, former director of Colonial Socimi and Axiare Patrimonio.
Active management to make more profit
Just like in the other European cities, Ardian Real Estate is interested in office assets, that need active management, both through small interventions and larger renovations, aiming at improving the installations, in order to make more profit at the rental market, a strategy better known as Core Plus and Value Add.
Among Ardian’s assets in Europe are a 7,000 square metre building in Piazza Fidia, 1, in Milan, and a 3,800 square metre office building in Pyramides Street in Paris.
Ardian is not the only real estate fund looking for opportunities on the Spanish market in these last months. Other examples of companies with interest have been the Swedish EQT, Primonial and the German investment funds ECE and GRC.
Source: Expansión.
Purchasing Services Spain
Do you have a question? You are very welcome, click here. No costs
Euro Economics specializes in real estate transfers involving foreign parties. We represent the interests of the foreign party, being the buyer or the seller.
Legal & Tax
Real estate in Spain is still a hot item, with or without the crisis. The still difficult economic situation of Spain implies that lots of sellers still need to sell out of necessity, which leads to more problems and complexities. We are specialised in finding legal and practical solutions in complex situations.
Spanish culture
In addition to having tax and legal knowledge both in house, we have also the knowledge of the Spanish culture which can be of help with negociations.
Our aim is to explain situations clearly, get to the bottom of each issue and answer all your questions.
More information or a proposal?
Would you like more information or a proposal? We are more than happy to assist you.