FLE GmbH has acquired a three-storey medical centre with almost 3,000 m2 worth of floor space in Hamburg-Lurup. This property was once again chosen on the basis of the FLE fund’s focus on sustainable investment and stable yields. The Luxem-bourg-based fund has seen high yields thanks to a strategic combination of proper-ties across Austria and West Germany, comprised of 60% worth of office buildings, 15% worth of hotels and retail space respectively, and 10% worth of other real estate.
The Hanseatic city medical centre dates back to 2009 and aligns perfectly with the Vienna-based firm’s risk diversification strategy. The commercial property in Ham-burg-Lurup has enjoyed high utilisation historically, with space for 13 offic-es/practices as well as three retail outlets. With a purchase price of nearly €6 million, it was also a perfect fit for the volume budget that FLE invests in individual properties.
The company was founded in 2007 and its real estate fund currently comprises 38 properties in Graz, Vienna, Munich, Stuttgart, Düsseldorf, Hanover and Hamburg. “The Hamburg medical centre is the third property we have acquired in 2013 so far, after the Motel One Bellevue in Berlin and the Benrather Schlossallee office complex in Düsseldorf,” fund manager Dr Alexander Klafsky says in summary of the first quar-ter. Other property acquisitions are planned. The company’s stated aim is to build up a €600 million portfolio over the next two years, with the firm having already accumu-lated more than half of this target. Eight to ten additional property acquisitions are set to follow in 2013.
Institutional investors, family offices and wealthy private individuals can expect an initial yield of more than 7% for the properties acquired by FLE in its capacity as an investment advisor to the Luxembourg-based real estate fund FLE SICAV FIS, founded in 2008. This is due to the fact that the fund specialists principally value ex-ceptional locations, excellent access to both public and individual means of transport, a high technical standard without any significant maintenance backlogs and a solid development potential.
“The key to our success is most certainly down to the fact that we thoroughly analyse each property in advance, along with undergoing due diligence from external advi-sors,” explains Dr Alexander Klafsky. As with all real estate transactions, the maxim of “location, location, location” once again holds true here, with the fund manager and his team of experts focusing on properties in West German urban centres as well as in large provincial capitals in Austria.
About FLE GmbH
Based in Vienna, FLE GmbH is part of the LFPI Group (La Financière Patrimoniale d’Investissement), a French private equity group. FLE GmbH works as an invest-ment advisor for FLE SICAV FIS, a real estate special fund founded in Luxembourg in September 2008. The fund’s focus is on office and commercial properties as well as low-budget hotels, with a purchasing volume of up to €30 million per single prop-erty. FLE manages individual properties with volumes averaging €8 million and 8 to 10 tenants. Investment locations range from Graz and Vienna to Munich, Stuttgart, Düsseldorf, Hanover and Hamburg.
Puetter GmbH has been responsible for FLE GmbH’s public relations since April 2013.
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