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IMPACT
Measurement in real estate portfolio
Europa, France

OVERVIEW
We created our Ardian Real Sustain tool to track and manage the ESG performance of our properties during the entire holding period, allowing us to assess the impact that our ownership brings to a property.

Before acquisition, we assess the property to identify the key areas for improvement, using the Real Sustain tool. Once we have completed the purchase, we perform a deep-dive analysis on how to improve ESG performance and monitor progress throughout the ownership period. When we sell the asset, we carry out a final assessment to demonstrate how we have improved the property according to ESG criteria.

CHALLENGE
Europa is a Paris office building that Ardian Real Estate bought in 2017. Europa was built in 1993, so structurally, technically and in terms of energy consumption, its performance was poor. In addition, asbestos and lead were present. To be in line with the highest international standards and become a Grade A building, the property required a complete refurbishment.

SOLUTION
We launched a dramatic overhaul of the property to make it as efficient as possible and attractive to tenants. The building was pre-let to a large media conglomerate under a “green lease” that included specific energy performance targets and reporting obligations. At acquisition, the property’s Ardian Real Sustain score was 5.3, and after work is completed, we aim to have achieved a score of 7.1 out of 10. Our aim is that the building will earn a BREEAM Excellent certification once the work is completed, thanks to the improvements that we have implemented to create a best-in-class building.

Stéphanie Bensimon
Head of Real Estate

"We always take sustainability into account when we invest in Real Estate, to ensure that the investments we make create properties that are resilient and future-proofed for the long term."

16
tonnes of asbestos REMOVED DURING REFURBISHMENT
32
tonnes of lead REMOVED DURING REFURBISHMENT
Driver of positive
impact
Driver of positive
impact
Sustainability Report 2020
DRAG
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