Press release

FLE acquires two office buildings in Budapest

Vienna/Budapest, 22 January 2018. FLE GmbH, a company of the LFPI group, reinforces its position in Hungary and acquires two new office properties in Budapest on behalf of the Luxemburg based fund FLE SICAV FIS.

The acquisition relates to the two office buildings Residence 1 and Residence 2 in Budapest, Kacsa utca 15-23 / Ganz utca 16, that were bought from an institutional seller. The two assets together offer 19,000 sqm of leasable space and more than 250 parking lots. The properties have been awarded the highest possible certificate by DGNB (platin) and show a high class technical standard. They are almost fully leased to a mix of national and international tenants of a very good tenancy financial standing. The parties to the transaction have agreed not to disclose the purchase price and other details.

Dr. Alexander Klafsky, managing director of FLE GmbH, elaborates: „We managed to enter the CEE market in 2016 and are very satisfied with our investments there. Our investment targets are modern office properties and business hotels in inner-city locations with very good infrastructure, high occupancy, strong tenants, and sustainable cash flows. These requirements are perfectly met with Residence 1 and 2. Our investment plan for 2018 foresees additional acquisitions in Budapest for a volume of up to € 100 million and we are confident in fulfilling that. “


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 more than three billion Euro of assets 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 two to fifty million Euro per asset in Germany, Austria, and CEE.

Press contact:

Eva Maria Kamedler

Palais Kinsky
Freyung 4/12, 1010 Wien, Österreich
Tel.: +43 1 53202110