FLE acquires an art nouveau property in Budapest
Vienna/Budapest, 9 September 2019. FLE GmbH, a company of the LFPI group, acquires its eighth property in Budapest on behalf of the Luxemburg based fund FLE SICAV FIS.
The acquisition relates to an art nouveau building that was constructed at the end of the 19th century and is located in the embassy quarter of Budapest’s 6th district, in very close proximity to Heroes’ Square. The property is currently home to the French Embassy and offers cca. 1,500 m² of leasable space.
Dr. Alexander Klafsky, managing partner of FLE GmbH, elaborates: „We are active in the CEE since 2016 and have deployed our capital in Hungary, Poland and the Czech Republic. After three years of experience we can proudly say it was the right choice to diversify our German and Austrian portfolio in the CEE. The performance of our assets is outstanding. As intended from the beginning, Budapest is our frontrunner with investments of approximately Euro 140 million in total. Our latest acquisition, the current French embassy, is an exceptional building in an outstanding location that complements our portfolio perfectly and which we will refurbish in a manner corresponding to its uniqueness.“
About FLE GmbH
FLE GmbH is based in Vienna and part of the French LFPI group. LFPI is an independent international multi asset manager with almost five billion Euro of equity under management in private equity, real estate, debt and other fields of asset management. The real estate funds managed by LFPI group are owners of more than 250 real properties with an estimated net value of approximately three billion Euro.
FLE GmbH is investment advisor of several real estate funds. These funds target office and retail assets as well as low budget hotels with purchase prices ranging from five million to fifty million Euro per asset in Germany, Austria, and CEE.
Freyung 4/12, 1010 Wien, Österreich
Tel.: +43 1 53202110