Press Release

FLE / LFPI expands its property portfolio in Germany

FLE GmbH, specialising in commercial properties and a subsidiary of the French LFPI Group, has acquired a further property on Äußere Sulzbacher Straße in Nuremberg for one of its special funds. The special fund based in France focuses on smaller properties within a price range of two to eight million euros.

The property in Nuremberg has an area of around 5,650 m² and is a modern multi-tenant structure. The commercial property was built in 2001 and is based on high, modern standards. Thanks to the central location of the property and the favourable traffic conditions with excellent accessibility via public transportation, the building houses a varied and successful mix of tenants. Medical practices, retail stores and offices have all set up shop in this commercial property in Nuremberg. The engineering provider Euro Engineering International, with over 40 locations within Germany, is the principal tenant in the building.

The high-performing building in this thriving metropolitan region in Bavaria represents the vast investment potential of medium-sized German cities which offer both a strong infrastructure and an excellent economic landscape. In the words of Dr Alexander Klafsky, managing director of FLE, “Nuremberg is a growth location with a solid economic structure and excellent prospects. The economic spectrum of the region is vibrant and diverse, making the location particularly interesting for us as investors. This deal corresponds to our investment strategy based on the principles of high quality, user flexibility and exclusivity, which we will continue to follow in the future.”

The Munich-based office of Colliers International was exclusively mandated for the sale of the office property. The two parties have agreed not to disclose the specific purchase price of the modern office building.

 

About FLE GmbH

FLE GmbH, founded in 2007 and based in Vienna, is part of the French private equity group LFPI (La Financière Patrimoniale d’Investissement) based in Paris. LFPI is a traditional French private equity group which currently manages fixed assets to the value of over three billion euros. The LFPI Group is sponsored by Lazard, a global market leader in financial services and asset management since 1848.

FLE GmbH works as an investment consultant for various special funds. The funds focus on office and commercial properties as well as low-budget hotels with a purchasing volume of up to 40 million euros per property. FLE manages properties with average volumes of eight million euros and with eight to ten tenants. Its investment locations include Graz, Vienna, Munich, Stuttgart, Düsseldorf, Hamburg and Leipzig.