Vienna/Frankfurt on the Main/Munich 24 November 2014.
The LFPI Group – an independent and international multi-asset manager with assets of more than 3 billion euros under management – has acquired two properties from ActivumSG via FLE GmbH, its subsidiary that specialises in commercial real estate and hotels. The group has purchased a property in Frankfurt on the Main as well as an office building in Munich. The parties have agreed to keep the purchase price and further transaction details confidential.
“Main Michelangelo,” the representative six-story office building with 9,100 square metres of rentable space in Frankfurt’s south was completed in 2002. The property is currently 90 per cent leased with an average rental period of four years. The tenants on Gerbermühlstrasse 7-11 include such companies as MFW Unternehmens- und Betriebsberatung GmbH, Niehus & Ruppel Rechtsanwälte und Steuerberater, Kone GmbH, Diakonisches Werk Frankfurt and Sberbank. Offering a total of 87 parking spaces, the property has an excellent connection to public passenger transport and the expressway.
The second property is “G1” in one of the most traditional neighbourhoods in Munich. Located in the Giesing district directly at the intersection of Tegernseer Landstrasse and Grünwalderstrasse, the office building was constructed in 2002. It has a total of 7,900 square metres of rentable space. The rooms can be divided in variable sizes, which enables flexible use according to the tenant’s preference. 90 per cent of the offices are currently leased to companies such as diwa Personalservice GmbH, B.A.D. Gesundheitsvorsorge und Sicherheitstechnik GmbH, Giant Leap GmbH & Co. KG as well as KTU Giesing GmbH & Co. KG.
Dr Alexander Klafsky, CEO of FLE, comments on the current purchase: “Frankfurt and Munich are extremely interesting property locations for us. Our portfolio already has two properties in Munich: the office building on Westendstrasse 193-195 that we bought in 2013 and the parcel on Haidelweg 46-48 purchased in 2010. The continuing prosperity of the two cities is one reason why the office properties we just acquired are so attractive. Another reason is that both properties comprehensively satisfy the criteria that our investment strategy are founded on, in terms of an attractive location with optimal infrastructural connections, several tenants with strong credit ratings along with flexible uses and upscale furnishings.”
This current transaction in Frankfurt and Munich increases the existing portfolio of the LFPI Group in the real estate area to a total of 54 assets in Germany and Austria. Dr Klafsky adds: “We are confident that the current purchase is another milestone in the sustainable development of our real estate portfolio.”
About FLE GmbH
Founded in 2007, the Vienna-based company FLE GmbH belongs to the LFPI Group, a leading independent multi-asset manager in Europe with more than 3 billion euros in assets under management. The LFPI Group offers its clients investment opportunities in the asset classes of private equity, real estate, debt and asset management. The geographic focus is on the regions of Europe, North America and Africa. As an investment adviser of the LFPI Group, FLE GmbH handles the Group’s real estate investments in the DACH region. The investments focus on office and commercial properties as well as low-budget hotels. The investments are generally made as equity investments with a volume of up to 40 million euros per single object in medium-sized German cities, as well as in the metropolitan area of Vienna and large Austrian provincial capitals. The growing interest of institutional investors in Germany along with the attractive investment objectives in this country have led to the intensification of FLE’s investment activities. www.fle.co.at
About the LFPI Group
With more than 3 billion euros of assets under management, the independent partner-owned LFPI Group is one of the leading multi-asset managers in the world. The LFPI Group offers its clients investment opportunities in the asset classes of private equity (direct investments, investments in the secondary market, co-investments and fund investments), private debt (unitranche, mezzanine and senior), real estate (from core properties to opportunistic transactions, equity as well as debt financing) and asset management (pension and equity funds). The geographic focus is on the regions of Europe, North America and Africa. The LFPI Group comprises a team of 70 professionals in seven offices, which pursues a long-term and conservative investment strategy. www.lfpi.fr
Charles Barker Corporate Communications GmbH
Kornelia Spodzieja & Ewa Stec
Telephone: +49 69 79 40 90 45
Mobile: +49 173 866 8391
LFPI Group Erin
Sarret – Head of Investor Relations
Telephone: +33 1 58 36 44 88