FLE acquires hotel property in Essen
Vienna/Essen, 30 May 2018. FLE GmbH, a company of the LFPI group, acquires a mixed-use hotel and office property in Essen on behalf of the Luxemburg based fund FLE SICAV FIS. The seller is a large Swiss bank. This acquisition symbolizes the return of FLE back onto the German market as a purchaser after having acquired three office buildings in Budapest and a mixed-use hotel and office property in Wroclaw, Poland, with an overall investment volume of about € 100 million. The acquisition confirms that Germany remains one of the key markets for FLE.
The parties to the transaction have agreed not to disclose the purchase price and other details.
The acquired real estate is a hotel- and office complex in Essen that was constructed in 2002, offers 12,700 sqm of leasable space and is almost fully leased. It is located at the edge of the inner city of Essen, in immediate vicinity to the town hall, and has the Welcome hotel group as its anchor tenant. Dr. Alexander Klafsky, managing partner of FLE GmbH, explains: „The mixed use of office and hotel leads to a high risk diversification in excellent inner-city location in Essen which, together with the asset’s modern technical standard, conforms exactly to our investment requirements. We are managing already several properties with a similar mixed use and these assets have excelled over the past years with a very stable performance and high cash flow.“
FLE is planning with further acquisitions in Germany and CEE in 2018 and is already implementing them.
About FLE GmbH
FLE GmbH with its seat in Vienna was founded in 2007 and is part of the French LFPI group. LFPI is an independent international multi asset manager with almost four 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 approx. 200 real properties with an estimated net value of more than two 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 a purchase price from five to fifty million Euro per asset in Germany, Austria, and CEE.
Eva Maria Kamedler
Freyung 4/12, 1010 Wien, Österreich
Tel.: +43 1 53202110