FLE sells two properties
as part of active portfolio optimisation and continues successful investment activities
Vienna 2 June 2016. FLE GmbH, a specialist in commercial properties and subsidiary of the French LFPI group, has acquired another property in Bayreuth of 3000 square metres for one of its special funds. The sellers were local private businessmen. The tenancy structure is broad and well diversified. Likewise the utilisation mix of industry (office and retail) as well as residential provides high security standards. The tenants are largely local business people and doctors, as well as insurance companies and employee representatives.
Furthermore, as part of the active portfolio optimisation, two properties with a transaction value of about 9 million euro were sold. The buyers were private investors.
The properties sold were a long-term leased hotel and a supermarket in Graz. The properties were acquired between 2008 and 2010. The supermarket is in an upcoming and rapidly developing neighbourhood, which mades it an ideal property purchase for a residential developer from Graz. The hotel in Hamburg will be operated by the successful low budget chain Meininger and is in a very strategically favourable location near Altona station, which is reflected by the excellent occupancy rates and performance.
Dr. Alexander Klafsky, CEO of FLE GmbH, says of the recent transactions: „The acquisition meets perfectly the key criteria for one of our special funds: very good inner city location in an attractive city in southern Germany, excellent risk diversification as a multi-tenant building and a sustainable above-average cash flow return. The sales success in Graz and Hamburg reflects the current dynamic in the market and buyers’ intensive search for properties in outstanding locations. Since 2007 it has been our objective to broaden our highly diversified portfolio of high-quality properties in Germany and Austria. FLE has a long-term and conservative investment strategy, whereby we keep purchased properties for several years to develop their potential. An essential part of our portfolio management is identifying the ideal time to sell a property in its life cycle in order to give our investors sustainably high dividends.“
FLE will continue to invest actively in the German market in the new year. Dr. Klafsky: „We’ve got a rich pipeline of investment opportunities and we are confident of continuing our investment activities at a high level.“
About FLE GmbH
Founded in 2007, FLE GmbH has its headquarters in Vienna and belongs to the French private equity group LFPI (La Financière Patrimoniale d’Investissement) based in Paris. LFPI is a traditional private equity group, which currently manages fixed assets of over 3 billion euro. The backer of LFPI group is Lazard, which has been one of the leading companies in the international financial services and asset management market since 1848. The business sector growing most rapidly is property investments. The group’s property volume Europe-wide is about 2 billion.
FLE GmbH provides investment consultation for various special funds. The focus of the fund is office and business properties, as well as low-budget hotels with a purchase volume of 2 to 5 million euro per property. The investment locations include both top locations, as well as cities from Vienna to Munich, Stuttgart and Düsseldorf to Hamburg, Berlin and Leipzig.
Eva Maria Kamedler, FLE GmbH
Freyung 4/12, 1010 Wien, Österreich
Tel.: +43 1 53202110