Ardian鈥檚 real estate arm in France has agreed to buy two office buildings in Paris.
Ardian Real Estate said it has signed two agreements to buy an office building located on 2 place Rio-de-Janeiro in the 8th district of Paris and the radio station Europe 1鈥檚 building for an undisclosed sum.
Both assets will be refurbished, it said.
St茅phanie Bensimon, the managing director Ardian Real Estate, said: 鈥淪igning these two sales agreements just a few days after successfully raising over 鈧�700m for our first-time real estate fund is a reflection of the strength of the team, as well as its ability to find attractive investment opportunities.
鈥淏oth acquisitions are perfectly in line with our 鈥渃ore-plus/value-added鈥� strategy and we look forward to apply our redevelopment plans to bring these properties to prime standard.鈥�
The acquisitions represent the second and the third transactions completed by Ardian Real Estate in France.
Launched in September 2015, Ardian鈥檚 commercial real estate arm aims to manage around 鈧�2bn of assets by 2020.
The strategy is to invest in commercial real estate assets with a strong potential for value creation.
