A deep-dive into the Real Estate team at Ardian

While pursuing her Master’s degree at ESCP in Madrid, Alice Garnier first connected with Ardian’s Spanish Real Estate team. She graduated from EHL Hospitality Business School with a Bachelor’s in Management, balancing her studies with part-time work at an asset management firm in Spain. After completing a summer internship in Real Estate with a London-based investment fund in 2021, she later joined Ardian as a Real Estate intern in Madrid.  Following her internship, she was hired as a full-time Analyst, and has now progressed to the role of Investment Manager in the Paris office.

Ardian’s Real Estate team

The Real Estate team invests in office buildings and other real estate assets in leading European cities, following a Value-Add strategy. The team has specifically developed a “Build-to-Green+” approach, focusing on converting outdated buildings into prime, energy-efficient assets.

The team operates across four countries: France, Germany, Italy, and Spain, allowing them to have solid local knowledge and an active approach.

The role of an intern in the Real Estate team

One of the distinguishing features of Ardian’s Real Estate team is its project-based approach. For each new project, a Managing Director, Director, and an Investment Manager or Analyst are involved throughout all stages, from the initial analysis to acquisition, asset management, and sale. This structure enables interns to understand and participate in all aspects of the job.

In Madrid, Alice joined a small team of two people and was given a variety of responsibilities. She helped identify investment opportunities by writing memorandums and conducting on-site visits to evaluate potential assets. She worked on asset management by updating business plans and quarterly reports. She even assisted with supervising and overseeing construction projects on some assets, in collaboration with project management assistants.

A challenge?

She emphasizes the importance of being curious, having a desire to learn, and being ready to make the necessary effort to quickly grasp key topics.

Skills and interests required

To join the Real Estate team as an intern, prior experience in Real Estate is highly valued (whether in Private Equity or with an Asset Manager). Knowledge of financial models and proficiency in Excel and PowerPoint are essential. A finance background, even without a Real Estate focus, is appreciated.

Additionally, Alice highlights the importance of having a genuine interest in Real Estate that extends beyond the professional realm. Comfort with numerical data, ratios, and thinking on a large scale is also necessary.

Lastly, developing good interpersonal skills is key for members of the Real Estate team, as the role involves interacting with sales agents, contractors, and tenants.

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