FLE sells ENCAD Office in Nuremberg to ALÌTUS Capital Partners
Vienna, 9 January 2017 The investment and asset manager ALÌTUS Capital Partners (ACP) from Erlangen has purchased the office and commercial building at 16 Äußere Sulzbacher Straße in Nuremberg known as ENCAD Office for a private consortium of investors. The seller of the property is a French investment company that is managed by Asset Manager FLE GmbH from Vienna. The parties agreed not to disclose the purchase price.
The fully let multi-tenant property was built in 2002. On a rentable effective area of 5,660 m², it includes a total of 13 rental units and has around 100 parking spaces of its own. The main tenants are an internationally active engineering company, a temporary employment agency and a real estate company. The WALT is around 4.5 years. The asset management of ENCAD Office will be taken over by ACP in the future. With this deal, ACP was able to successfully implement the second large transaction in just five months since it commenced business in July 2016. It was only in October that the company had successfully structured the purchase of the Erlangen office building Papilio Office for a family office.
Uwe K. Stielke (MRICS), Managing Partner of ACP: “We have managed to find a high-quality office property in the metropolitan region of Nuremberg. The purchase is in accordance with our investment strategy. In addition to our nationwide focus on opportunistic retail properties, we also very much like to invest on our own doorstep in commercial properties in general. These can also be core products if they exhibit an adequate return profile”.
The transaction was mediated by Colliers from Munich. The Bissel & Partner law firm from Erlangen acted for the buyer and the GSK Stockmann + Kollegen law firm from Munich acted for the seller.
About FLE GmbH
FLE GmbH was founded in 2007 and is based in Vienna. It is part of the French LFPI Group, which, as an independent and international multi-asset manager with more than EUR 3 billion in managed investor funds, offers its investors investment opportunities in the asset classes of private equity, real estate and debt and asset management. The property funds managed by the LFPI Group are owners of approximately 200 business properties with a value of more than EUR 2 billion.
FLE GmbH operates as an investment adviser for various property funds. The investment focus of these funds lies on office and business property as well as low-budget hotels with a purchase volume of EUR 2 million to EUR 50 million per individual property in Germany, Austria and the CEE region.
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