Ardian Real Estate sells Konrad office complex after comprehensive repositioning

Since the acquisition by Ardian in 2017, the quality and attractiveness of the areas has been significantly increased – among other things through the renovation and redesign of the two entrance areas, modernization of the façade and interior areas, and an upgrade of the garden and courtyard. A sum in the tens of millions of euros was invested for the upgrade measures and the rebranding. An important milestone occurred in 2019 with the achievement of a 100 percent occupancy rate by 30 tenants under long-term lease agreements. Most recently, a modern dining area was created on the property in September 2019 and is operated by Leonardi. The Wappenhalle is still used under its existing name as a high-quality venue for galas, trade fairs and exhibitions as well as for conferences. For the repositioning of KONRAD, in February 2020 Ardian Real Estate received the German immobilienmanager award in the “Investment” category.

Bernd Haggenmüller, Senior Managing Director and responsible for the DACH region for Ardian Real Estate, said: “We have fully achieved our goals for KONRAD. The building complex has been successfully repositioned and modernized. It has been significantly upgraded through targeted investments and has attractive unique selling points with the Wappenhalle and the associated combination of tradition and modernity. After reaching full long-term occupancy in 2019, this demonstrates that the measures have been very well received by both existing and prospective tenants.”