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FLE portfolio value reaches EUR 1 bln, with 98.5% occupancy

FLE GmbH, a member of the LFPI group, says that the occupancy rate at its portfolio in Austria, Germany and Switzerland and in CEE has risen to 98.5%, with the overall value reaching about EUR 1 billion.

FLEʼs Residence 1 building in Budapest.

The company says that roughly EUR 140 million is invested in Budapest, where FLE sealed leasing deals involving its properties Office Garden I, Residence 1, and Residence 2 in the past few months. 

The firmʼs asset management team managed to conclude lease agreements of more than 14,000 sqm in Hungary in 2019 alone. The rental agreements included the tenants HEPA (the Hungarian Export Promotion Agency), CED Central European Economic Development Network Nonprofit Ltd. and Diákhitel (student loan company).

"We have invested in Budapest for three years already and could report only very positive results so far," says Bernadett Pauer, head of asset management of FLE.

"Our properties are well established on the local market and benefit from high demand. Residence 1 and Residence 2 are fully leased already. In Office Garden I we only have a 350 sqm vacancy remaining on the ground floor.“

Alexander Klafsky, managing partner of FLE notes, "Reaching a portfolio of EUR 1 bln in our home region is a new milestone. Crucial for us, however, is that our portfolio continues to excel at the current outstanding level for the long-term benefit of our investors and business partners.”