Ardian, a global private investment house, has signed an agreement with Publity AG for the acquisition of the office building “WestendCarree” (at Grueneburgweg 14, 16-18 and Im Trutz 55) in Frankfurt. The acquisition marks Ardian Real Estate’s sixth investment in Germany.
Built in 1989, the office complex was last renovated in 2010 and spreads across five to eight stories, with around 31,000 square meters of rental space. The property is situated in Frankfurt’s Westend district.
Bernd Haggenmüller, senior managing director of real estate at Ardian, said, “Investments in office space across the top seven cities in Germany remain very attractive. It seems clear that a turning point in the take-up rate for office space is emerging in Frankfurt. Now, market forecasts predict that by the end of the year this figure will have grown by over 30%, compared to last year’s figure. We can see a further increase in demand on the market as tenants no longer want to delay their decisions, and growing numbers of companies have redefined their future workplace concepts. We are pleased to adapt the amenities of the WestendCarree to offer state-of-the-art office space configurations and working conditions. Our work will continue to focus on taking into account current ESG criteria and requirements resulting from the coronavirus pandemic.”