Activum SG Completes 2nd Asset Sale in Fund I
13th December 2012
Activum SG Capital Management Ltd., the European real estate fund manager, announces another success for Activum SG Fund I with the sale of the “Goldpunkt” building in Berlin. This was the first investment from Activum SG´s Fund I raised in 2008 that targeted turn-around real assets and real estate related ‘special situations’ in Germany.
Purchased in early 2009 from insolvency, this 23,000 square meter building is located in Prenzlauer Berg in Berlin. Through active management the Activum SG team rented out more than 15,000 square meters of space and increased the occupancy from 43 percent at acquisition to 90 percent at sale and at the same time more than tripled the rent. With long-term leases and a tenant base of dynamic companies, this building was attractive to buyers focused on stable, cash-flowing assets.
Activum founder Saul Goldstein, stated “We continue to prove our ability to bring capital and asset management strategies to reposition real estate related assets in Germany. Goldpunkt was a simple, yet classic investment. This was an under-leased and under-managed building that we converted into a stable, cash producing asset through our strong platform and hard work.”
Activum SG’s Fund II has a similar strategy and is actively investing in real estate focused assets ranging from debt to equity.