La Française Forum Real Estate Partners (LFF Real Estate Partners) has announced the acquisition of its first German asset for an SCPI investing in collective real estate investment vehicles and managed by La Française.
The 6,030 square meter building (pictured), comprised of six stories, is located on the Main river in “Hafenplatz”, part of the new Hafen Offenbach development that borders Frankfurt. It has been purchased from Groß & Partner Grundstücksentwicklungsgesellschaft mbH for €20m.
The tenant will be French multinational Saint-Gobain, which has chosen to lease the building as its German headquarters on a long term contract.
Jens Göttler, managing director Germany at LFF Real Estate Partners, said: “We are delighted to be able to acquire such a core asset, offering secure income leased to a strong tenant on a long term lease. We have a pipeline of further deals and will be looking to deploy over €160m of equity during the course of the next 12 months.”
LFF Real Estate Partners is active in the UK, German, French and Swedish markets, with nearly $20bn of AUM (€18.9bn), of which $14bn (€13.2bn) are direct core European real estate investments.