The French management company will use real estate fund Areef I to invest in the office buildings located in Madrid and Barcelona’s business districts.
These operations should take place throughout the next 2 years and will represent a 125 million euro investment from the company’s own funds, with the remaining 125 million euro obtained through external financing, according to newspaper Expansión.
Ardian Real Estate appeared in 2015 and with it this fund destined to invest in the sector. The fund has managed to attract 738 million euro, with which it grew its European office portfolio, by acquiring 16 buildings in cities such as Milan, Paris, Rome, Munich and Berlin.
Although Ardian’s real estate business is only now debuting in Spain, this is not the first time the French management company operates in the country, up until now, Ardian only operated in Spain using its Infrastructure funds, Mid-Cap Buyout and Growth.
Rodolfo Petrosino, Senior Managing Director in charge of Southern Europe, assumed then, in a release, that «Ardian Real Estate’s arrival in Spain is a natural step» since its development made «Spain one of the priority countries for our expansion».
Edmund Eggins, Director at Ardian Real Estate, leads a team of 19 professionals and assumed that «Spain is a market with great potential thanks to the dynamics of its economy and its business fabric; and attractive for international companies with cities such as Madrid and Barcelona, which are amongst the most iconic in Europe».