Areef II has a hundred investors, from 13 countries in America, Europe and the Middle East, and more than half are institutional. The figure collected represents an increase of 60% compared to what was obtained by the first, which captured 737 million euros.
Its objective is to invest in assets valued between 50 and 250 million. As well as using its operational capacities to transform obsolete assets into Green+ assets, that is, with strong sustainability credentials, responding to the new needs of tenants in the main urban centers throughout Europe.
"Companies have been rethinking ways of working for several years, but this change has been accelerated by the pandemic and brings significant opportunities for real estate investors. Tenants are increasingly demanding more green and high-quality spaces in strategic locations with strong credentials of sustainability, what we call Green + buildings. With our experience and track record now proven in the market, our build to Green + strategy ensures that our investments meet the needs of the workforce of the future, "said Stéphanie Bensimon, director of Ardian Real Estate
So far, the fund has carried out 11 transactions, and already concentrates 230,000 sqm in eight European cities.
Spain as target
The new Ardian vehicle has included Spain as one of its markets of interest. Specifically, it plans to allocate 10% of the total figure to our country. Thus, the firm plans to carry out operations in the Spanish market worth some 250 million euros.
In fact, the latest acquisitions of the firm, some offices in Azca and others in Méndez Álvaro, both in Madrid, have been executed for this vehicle. In total, these properties add up to 25,000 sqm, which will be rehabilitated and repositioned. Now, Ardian is looking for complexes in Barcelona.
France, Germany and Italy are also target destinations for the fund.
"This fundraising not only demonstrates the revival of the European real estate sector, but is an important moment for Ardian Real Estate. Following the success of our investments in the first fund, which delivered strong returns to our investors, this second generation fund has seen an even stronger response from investors and we see a significant opportunity to create value in the future," said Stéphanie Bensimon, director of Ardian Real Estate.
