FLE GmbH has been able to increase its purchases on the German real estate market thanks to a newly launched special fund with a total investment volume of €110 million. The investor acquired a Deutsche Bank building in Ratingen. This is the third property that has been acquired for the fund in 2014 so far.
Vienna-based FLE GmbH is currently reinforcing its position with investments in 2-8 million properties across the overall German market for a special fund established in the 4th quarter of 2013 and based in France. In the pedestrian zone in Ratingen, the investor had set its sights on the building, dating from 1952 and renovated in 1990, which has the long-term anchor tenant Deutsche Bank and boasts almost 1,660 m2 of rental space for offices and retail.
The property has an excellent location in the city centre and is in a technically flaw-less condition. The tenants value the location in the middle of the pedestrian zone with its high-quality businesses, in close proximity to Düsseldorf Airport and with a direct connection to the Düsseldorf city zone.
The planned investment volume of the special fund should be reached by the middle of 2015.
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