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, Inc. (together with its global investment advisory affiliates, “LaSalle”) is one of the world’s leading real estate investment managers. LaSalle on a global basis manages approximately $60.5 billion as of Q3 2018 of private and public equity and private debt investments. 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. LaSalle Investment Management, Inc. is a wholly-owned, operationally independent subsidiary of Jones Lang LaSalle Incorporated (NYSE: JLL), one of the world’s largest real estate companies. For more information please visit www.lasalle.com.
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