Vienna-based FLE GmbH, a company of the French LFPI Group, has acquired its eighth property in Budapest, the building hosting the French Embassy, on behalf of Luxembourg-based fund FLE SICAV FIS, says a press release sent to the Budapest Business Journal.
The Art Nouveau building was built at the end of the 19th century and is located in the embassy quarter of Budapest’s District 6, in very close proximity to Heroes’ Square. The property offers approximately 1,500 square meters of leasable space.
"We are active in the CEE since 2016 and have deployed our capital in Hungary, Poland, and the Czech Republic," said Alexander Klafsky, managing partner of FLE GmbH. "After three years of experience, we can proudly say it was the right choice to diversify our German and Austrian portfolio in the CEE. The performance of our assets is outstanding."
As intended from the beginning, Klafsky noted, Budapest is FLEʼs frontrunner with investments of around EUR 140 million in total.
"Our latest acquisition, the current French Embassy, is an exceptional building in an outstanding location that complements our portfolio perfectly and which we will refurbish in a manner corresponding to its uniqueness," he added.