FLE buys office property Pier 50 in Vienna
Vienna, 9 December 2015 – KGAL Group, a German asset and investment manager, has sold PIER 50 office property on Brigittenauer Lände 50-54 in Vienna’s twentieth district to FLE GmbH, belonging to the French private equity group LFPI. Both parties have agreed not to disclose the purchase price. EHL Immobilien, one of the leading real estate service providers in Austria, has structured the marketing process and brokered FLE as a buyer.
PIER 50 is located directly on the Danube Canal and has around 22,300 square meters of usable space and 466 parking spaces in the asset’s own underground car park. It is almost completely leased to renowned companies such as the AMS, Hofer, the Federal Environment Agency, ÖVW Bauträger and SOS Kinderdorf. The property can be easily reached by public transport (U4 station “Friedensbrücke”, Franz-Josefs-Bahnhof and several tram lines) as well as by car.
“PIER 50, as a multi-tenant object, is an excellent addition to our portfolio. Although the size of the property is at the upper end of our investment strategy, EHL chose us as a buyer, because they know our requirements exactly and thus knew that FLE is the right partner for KGAL “, states Alexander Klafsky, Managing Director of FLE GmbH.
“2015 will again be an excellent year for the Austrian investment market. We are very confident that this year again a volume of 3 billion EUR can be reached or exceeded”, mentions Franz Pöltl, Managing Director of EHL Investment Consulting. “We are making a disproportionate contribution to this with transactions such as the Haus an der Wien or the retail parks in Hainburg and Bruck, which were recently brought to KGAL as buyers. Currently, top properties are traded at yields of around 4.75%”, adds Mr. Pöltl.
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.
Eva Maria Kamedler
Freyung 4/12, 1010 Wien, Österreich
Tel.: +43 1 53202110