FLE GmbH, a company of the LFPI group, has acquired its first property in CEE from an international institutional seller. The acquisition relates to the office building Office Garden I in the Southern Buda area of Budapest, that is 93 percent leased and offers 16,000 square meters of leasable space. The seller was represented by JLL.
The tenancy structure of Office Garden I is dominated by international tenants, the most important among which are Tata, Hewlett Packard, and Sophos. The building was constructed in 2008 and is situated in an upcoming office location that has continuously been enjoying the lowest vacancy rates in Budapest. The parties to the transaction have agreed not to disclose the purchase price and other details.
Dr. Alexander Klafsky, managing director of FLE GmbH, illustrates: „We have been and still are very active on the German and Austrian market. However, following an active portfolio strategy we are about to enter new markets and most particularly the CEE area. Our investment targets are modern office properties in inner-city locations with very good infrastructure, high occupancy, strong tenants, and sustainable cash flows. All of these criteria are perfectly matched with our new property, Office Garden I. We see a multitude of interesting opportunities in the market and are negotiating several new acquisitions in the region.“
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 €3 billion 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 €2 billion. 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 €2 to €50 million per asset in Germany, Austria, and CEE.
The company PKB Inwest Budowa has announced that the retail chain Lidl Polska will be a tenant of the newly developed Retail Park in Garwolin. The investment will include the construction of 3 buildings with a total area of 11,045 sqm. GLA. One of
of them with an area of over 2,100 sqm will be occupied by a Lidl Polska shop.
Peek & Cloppenburg has chosen the Szczecin Galaxy shopping centre to make its debut in West Pomerania in Poland. The brand's only shop in this part of the country will be almost two thousand square metres in size.
The Enel-med clinic chain is opening two new outlets in Wrocław: 510 sqm in Sagittarius Business House and 1,374 sqm in the Infinity office building.
New appointments
Angelika Majkowska has taken up the position of HR director at Apsys Poland. Angelika, who has been with the company since 2013, will be responsible for complex HR policies in an organisation with a structure involving more than 19 teams in various locations.
Filip Krstičević is joining iO Partners in Zagreb as Regional Manager, focusing on leasing and land deals across the region. With a strong track record of acquiring land sites and developing residential and commercial properties in both Croatia and Australia, Filip is well placed to support international investors entering the Croatian market.
The Management Board of Globe Trade Centre S.A. has announced that on 18th of March, 2024 the company accepted Barbara Sikora's decision to resign from the company's authorities.
Peakside Capital Advisors has achieved two BREEAM IN-USE certifications at the "Very Good" level for over 50,000 square meters of warehouse-office space at Logistics Point Raszyn and Logistics Point Piaseczno. The attained rating results from the successful modernization of fully commercialized logistic centres near Warsaw.
Panattoni has acquired financing for the development of its latest development in Western Pomerania. The €20 million loan was granted by mBank. Panattoni Park Szczecin V will comprise 30,000 sqm of which around a third has already been leased to a client from the food and hospitality sector.
Immofinanz Group generated strong growth in rental income during the 2023 financial year. This development was based primarily on the full consolidation of S Immo, the purchase of retail properties, and solid growth in like-for-like rental income. However, due to revaluation effects, the company recorded a decline in net profit to €-229.5 million in 2023.
Property Forum is a leading event hub in the CEE real estate industry with over 10 years of experience. We organise conferences, business breakfasts and workshops focused on real estate, in London, Vienna, Warsaw, Budapest, Bucharest, Bratislava, Prague, Zagreb and Sofia, amongst other locations.
I have read the Privacy Policy of International Property Network Inc. and I consent to International Property Network Inc. sending me newsletters and managing my personal data provided for this purpose.