Konrad

Who owns Konrad?

Konrad was owned by Ardian through Ardian Real Estate European Fund I (2017 vintage) from 2017 to 2020, exited via Secondary.

Buyer identity available on Pro.

Hand-verified · updated 2026-04-21

About Konrad

Konrad is a landmark office complex in the Munich-Riem district of Germany, located at Konrad-Zuse-Platz and directly opposite the city's convention and exhibition center. The property spans roughly 34,000 square meters of office space across ten buildings arranged around a central courtyard garden, together with 544 parking spaces. Its anchor structure is the listed Wappenhalle, a hall dating to 1939 that once formed part of the former Munich-Riem Airport and continues to operate as a venue for galas, trade fairs, exhibitions and conferences. By the end of 2019 the campus was fully let to 30 tenants on long-term agreements, including Capgemini, Candy Haier and Hitachi, at a weighted average lease term of around six years.

Ownership journey

The complex traces to the historic Wappenhalle at the former Munich-Riem Airport, which closed in 1992 and saw the hall refurbished in 2002 before the wider site was assembled into a business park. In 2017 Ardian Real Estate acquired the office and business park complex through its Ardian Real Estate European Fund I, its inaugural European real estate vehicle, and rebranded the asset as Konrad. Ardian held the property as a value-add repositioning play over roughly three years. In March 2020 Ardian agreed to sell the Konrad office complex, exiting the investment via a secondary transaction; the identity of the acquiring party is not named here.

Under PE ownership

Following the 2017 acquisition, Ardian invested tens of millions of euros in a comprehensive repositioning of the campus, redesigning the two entrance areas, modernizing the facade and interior spaces, and upgrading the garden and courtyard. A modern dining area, operated by an external caterer, opened in September 2019 to serve tenants across the complex. The program lifted the asset to 100 percent occupancy by the end of 2019, with 30 tenants signed to long-term leases. In recognition of the work, Ardian received the German immobilienmanager award for the repositioning in February 2020, shortly before agreeing the sale.