Activum SG Makes First Mezzanine Investment
10. October 2012, Frankfurt –
Activum SG Capital Management Ltd., the German focused real estate fund manager, ex-tends a mezzanine loan to Frankfurt developer Ardi Goldman on “Material Arts”- a 15,500 square meter retail office redevel-opement on Stephanstraße just off the Zeil – the main shopping area in Frankfurt.
The mezzanine loan will keep the capital stack from 60 to 80% loan to cost just below the senior loan secured by a mortgage loan from a German bank.
Acticvum SG founder Saul Goldstein stated: “This is a classic example of the market´s growing need for additional capital beyond the traditional senior debt and Activum´s flexible approach to financing projects. We are continuously looking for sound real estate projects to invest whether through equity or debt, depending on the needs of the market. In this case, Goldman had a unique redevelopment project with 40% pre-leased but needed additional capital to complete the project. We were pleased to provide the additional financing the developer needed.”
Activum SG Capital Management Ltd. was advised by Berlin based Activum SG Advisory GmbH and Olswang Germany LLP.
About Activum SG
Activum SG Capital Management Ltd. Is a Jersey-based real estate fund manager – regulated by the Jersey Financial Services Commission – that repositions undervalued real estate in Germany. It manages a series of discretionary real estate funds and is advised by Berlin based
Activum SG Advisory GmbH. The group was founded in 2007 by Saul Goldstein and currently has a team of eleven.
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English: Activum PM-mezzanin_eng
German: Activum PM-mezzanin_deu
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