La Française Forum acquires 1st German asset for new vehicle

La Française Forum Real Estate Partners (LFF Real Estate Partners) has acquired the first German asset for €20 mln on behalf of a SCPI collective real estate investment vehicle.

The 6,000 m2 office building is located on the Main river in Hafenplatz, part of the new Hafen Offenbach development that borders Frankfurt.

The newly completed building is fully leased on a long-term contract to French multinational Saint-Gobain which uses it as its German headquarters.

LFF is a joint venture formed in 2014 between European asset manager La Française and UK-based Forum Partners. The SCPI acquiring the asset is managed by European asset manager La Française. The vendor was Groß & Partner Grundstücksentwicklungsgesellschaft.

The asset offers flexible office and storage facilities and includes a cafe that opens directly on to the river. A 120-space car park, recently built by Groß & Partner, is located within a short walk.

Active in the UK, German, French and Swedish commercial real estate markets, LFF Real Estate Partners sources diversification opportunities for parent company La Française and its French domiciled SCPIs.

Jens Göttler, managing director for 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 €160 mln of equity during the course of the next 12 months.'

PH REAL Peter Holtz Real Estate Services, Hogan Lovells and Turner & Townsend advised LFF Real Estate Partners. Groß & Partner was advised by Hauck Schuchardt.