FLE GmbH has been able to increase its purchases on the German real estate market thanks to a newly launched special fund with a total investment volume of €110 million. The investor acquired the Medicushaus medical centre on the edge of Kaiserslautern’s historic old town as well as an office complex in the district of Schöneberg from a Luxembourg-based proper-ty company, which is advised by the Hamburg-based firm ATOS Asset Man-agement GmbH.
Vienna-based FLE GmbH is currently reinforcing its position with investments in 2-8 million properties across the overall German market for a special fund established in the 4th quarter and based in France. In Kaiserslautern, the investor had set its sights on the Medicushaus medical centre with a rental area of approximately 5,360 m2. The building is located in close proximity to the Westpfalz clinic, so that the almost fully leased medical centre can offer optimal synergy. FLE GmbH also acquired a fully leased six-storey office and business premises located at a central transport hub in Schöneberg, Berlin. The plot, encompassing around 1,260 m2, boasts more than 3,400 m2 of office space.
“We have focused on modernised properties in prime B-site locations with excellent transport links, high capacity utilisation, credit-worthy tenants and a sustainable cash flow. These two properties met our criteria,” says fund manager Dr Alexander Klaf-sky. FLE GmbH has seen initial yields for its fund topping 7%. The key to success is the variety of its investments, comprised of 60% worth of office buildings, 15% worth of hotels and retail space respectively, and 10% worth of other real estate.
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