LaSalle acquires Solo West-office building in Frankfurt
FRANKFURT (August 17, 2017) — LaSalle is pleased to announce that its LaSalle E-REGI fund has acquired the “Solo-West“-office building in Frankfurt/Main from A.E. Funding Luxembourg Sarl.
The semi-detached ten-floor office building located in Guiollettstraße in the Frankfurt West End has a total lettable floor space of c 5,800 m² and excels by its high flexibility, high quality of furnishings and fittings and its excellent location. The banking district, the Opernplatz as well as the shopping mile “Zeil” are within walking distance. The building, which was constructed in 1990, has been comprehensively refurbished in 2014 and is currently 65% leased to tenants from various industries.
LaSalle E-REGI fund is an open-ended pan-European real estate fund, launched by the specialist investment company LaSalle Investment Management Kapitalverwaltungsgesellschaft mbH (“LaSalle KVG”), which is 100% owned by LaSalle GmbH. It aims for stable income return from a diversified core portfolio (office, retail, logistics) in transparent markets. The investment strategy is based on a quantitative model, the European Regional Economic Growth Index (E-REGI) which has been developed by LaSalle since 1999, and identifies the cities and regions across Europe that have the greatest economic growth potential over the short to medium term. The Fund also includes additional screening filters such as JLL`s Global Real Estate Transparency Index and the minimum market size.
Uwe Rempis, Fund Manager of the LaSalle E-REGI fund at LaSalle, said: “The Solo West fits perfectly with our funds strategy, since in the wake of Brexit the real estate market of Frankfurt has increasingly moved into the focus of relevant international financial service providers.”
LaSalle was advised by Hogan Lovells, Gleeds und WTS, the seller was advised by Herbert Smith Freehills. Colliers International acted as broker.
About LaSalle Investment Management
LaSalle Investment Management is one of the world's leading real estate investment managers. On a global basis, LaSalle manages more than $69 billion of assets in private and public real estate property and debt investments as of Q3 2020. LaSalle's diverse client base includes public and private pension funds, insurance companies, governments, corporations, endowments and private individuals from across the globe. LaSalle sponsors a complete range of investment vehicles including separate accounts, open- and closed-end funds, public securities and entity-level investments. For more information please visit http://www.lasalle.com, and LinkedIn.
NOTE: This information discussed above is based on the market analysis and expectations of LaSalle and should not be relied upon by the reader as research or investment advice regarding LaSalle funds or any issuer or security in particular. The information presented herein is for illustrative and educational purposes and is not a recommendation, offer or solicitation to buy or sell any securities or to adopt any investment strategy in any jurisdiction where prohibited by law or where contrary to local law or regulation. Any such offer to invest, if made, will only be made to certain qualified investors by means of a private placement memorandum or applicable offering document and in accordance with applicable laws and regulations. Past performance is not indicative of future results, nor should any statements herein be construed as a prediction or guarantee of future results.