The acquisition relates to an art nouveau building that was constructed at the end of the 19th century and is located in the embassy quarter of Budapest’s 6th district, in very close proximity to Heroes’ Square. The property is currently home to the French Embassy and offers cca. 1,500 sqm of leasable space.

Dr. Alexander Klafsky, Managing Partner of FLE GmbH, elaborates: „We are active in CEE since 2016 and have deployed our capital in Hungary, Poland and the Czech Republic. 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, Budapest is our frontrunner with investments of approximately €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.”