PRESS RELEASE, April 23, 2015
La Française Forum Real Estate Partners and Aberdeen purchase two prime
retail assets in Germany on behalf of PURetail fund from Deutsche Asset &
Wealth Management
On behalf of the PURetail fund, La Française Forum Real Estate Partners (LFF Real Estate Partners) and
Aberdeen purchased a prime mixed use (retail and office) asset in Stuttgart and a core retail asset in
Lübeck, Germany from Deutsche Asset & Wealth Management (Deutsche AWM) for a total of just
under Euro 80 million taking the total AUM of the Fund to over EUR 200 million in 10 assets.
The Fund acquired Königstraße 19a in Stuttgart for
just under EUR 56 million from a syndicate of Irish
investors managed by the Davy Group. The property
is very well situated in Stuttgart´s prime retail area,
the Königstraße. The property extends to some
4,700m² and is leased to retail tenants New Yorker,
Geox and Vodafone. The offices are occupied by the
German regional administration, Land BadenWürttemberg.
The deal was brokered by Colliers. PURetail was
advised by Hogan Lovells and Turner & Townsend.
Königstraße 19a, Stuttgart
Prior to acquiring the Stuttgart asset, the Fund
completed the purchase of a prime retail asset in the
Hanseatic City of Lübeck in Northern Germany. The
property, which has a distinctive architecture, was
designed by architect Christoph Ingenhoven and
completed in 2004. The building offers approx.
6,500 m² of floor space and is centrally located in the
market square. The main tenant is Peek &
Cloppenburg. The purchase price was ca. Euro 22.5
million.
Markt 1, Lûbeck
JLL advised the vendor. PURetail was advised by
Hogan Lovells and Turner & Townsend.
Ross Braithwaite, Fund Manager of the PURetail Fund at Aberdeen Asset Management said: “We are
delighted to have acquired these two assets in Germany for the PURetail Fund. The investments fit
very well with the investment strategy of the fund, which is focused on high quality assets in strong
retailing locations. The PURetail Fund offers our institutional investors the opportunity to invest in
inner city retail properties in France, Germany and Sweden, which can be harder to source. The
successful implementation of the investment strategy of the PURetail Fund is a testament to the good
performance of the joint venture team and underlines the commitment of Aberdeen and LFF Real
Estate Partners to acquire quality properties that will bring attractive returns for our investors."
Jens Göttler, Managing Director for Germany of LFF Real Estate Partners and Asset Manager of
PURetail said: “These two acquisitions enlarge our portfolio to 10 properties. Both are of high quality
and offer a good mix of tenants. They complement the other properties of the Fund very well. Lübeck
and Stuttgart are extremely attractive retail locations.”
*This is an example of an investment. It is not indicative of future acquisitions and does not fully reflect the
composition of the fund.
The PURETAIL fund is closed to subscriptions as of July, 2014.
Enquiries:
La Française Forum Real Estate Partners:
Jens Goettler – 00 49 69 2972 438 10 - [email protected]
La Française:
Pascale Cheynet – 0033 1 43 12 64 25 - [email protected]
Heidi Rauen – 0049 69 33 99 78 13 - [email protected]
About La Française Forum Real Estate Partners
La Française Forum Real Estate Partners (LFF Real Estate Partners) was established in January 2014
through the joint venture acquisition of Cushman and Wakefield Investors (CWI) by La Française and
Forum Partners. The firm combines the 30 years’ real estate investment management experience of
the CWI principals with the broad capabilities, resources and expertise of its shareholders.
With offices in London, Frankfurt and Paris, LFF Real Estate Partners specializes in direct commercial
real estate investing across Europe and provides institutional and retail investors bespoke segregated
products as well as a co-mingled investment vehicle, PURetail. Together with La Française and Forum
Partners, LFF Real Estate Partners offers a complete range of Pan European real estate investment
solutions (direct real estate, listed and unlisted real estate investment funds, private and public equity
and debt) to retail and institutional investors worldwide. The combined platform has total assets under
management amounting to close to $20 billion, of which $14 billion are direct core European real
estate investments.
About Aberdeen Asset Management
Aberdeen Asset Management is a pure asset management company that has been listed on the
London Stock Exchange since 1991 (and in the FTSE-100 since 2012). The company was originally
incorporated in Aberdeen/Scotland in 1983. Aberdeen invests globally in the four main asset classes
of equities, bonds, real estate and alternative investments on behalf of its clients. The company and
its more than 2,500 employees in 24 countries currently manage assets of about 417 billion euros, of
which around 28 billion euros are invested in property (as of 31 December 2014).
Disclaimer
This is a promotional document. This press release is for Professional Clients in the UK and CE only and is not for consumer
use. You are prohibited from transferring the information and material provided herein to any other person unless you have
obtained the prior written approval of La Française. Past performances do not guarantee future performances. Investment
products referenced in this presentation are not directed at and suitable for all types of investors. Potential subscribers are
requested to carefully and independently assess the legal and commercial documentation provided and notably the risks
entailed and the fees. Investors are to make their own risk analysis and not rely solely on the information that has been
provided to them. The value of investments and any income will fluctuate (this may partly be the result of exchange rate
fluctuations) and investors may not get back the full amount invested. Where La Française Forum Real Estate Partners has
expressed opinions, they are based on current market conditions and are subject to change without notice. These opinions
may differ from those of other investment professionals. Issued by La Française AM Finance Services, home office 173,
boulevard Haussmann, 75008 Paris, France, regulated by the “Autorité de Contrôle Prudentiel” as investment services
provider under the number 18673 X, affiliate of La Française. LFF Real Estate Partners is authorized and regulated by the UK
Financial Conduct Authority.