ActivumSG Fund III acquires formart from HOCHTIEF AG
Acquisition of second largest housing developer in Germany will increase Activum’s footprint in the residential market Activum SG Capital Management Ltd., the German focused real estate fund manager, has acquired the residential real estate developer formart from Hochtief AG.
Riding on the success of two other residential project developments in Fund II, Jolie Coeur and Metropol Park in Berlin, ActivumSG sees formart as an excellent opportunity to further increase its exposure to this growing market segment and expand its geographic footprint throughout Germany. ActivumSG shares the view of the formart management that long-term and stable demand by both owner-occupiers and retail and institutional investors for high quality residential space will continue to drive the market upward. Post-acquisition, formart will remain an independent organization led by the current management.
Saul Goldstein, founder and owner of ActivumSG comments: “The management of formart has done an excellent job in building out the platform into what is now a portfolio of high quality residential assets that complement our own investment portfolio. Together with the management, we will consolidate the company into a stand-alone entity and support further growth in regions and product lines to support formart’s future development.”
ActivumSG Capital Management Ltd. is a Jersey-based real estate fund manager – regulated by the Jersey Financial Services Commission – that repositions real estate related investments, primarily 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 thirteen. For more information, visit website at www.activumsg.com or follow Activum on Twitter @activumsg
formart is one of Germany’s largest residential real estate developers in major metropolitan areas. The company designs, builds and sells residential real estate projects for private clients and institutional investors. The key value chain drivers are provided in-house, from land acquisition to concept development, project management and customer services. formart has six branch offices in the most important metropolitan regions in Germany and a project pipeline of around 70 with a volume of €1.3 bln.