PORTFOLIO: FUND II
22,000 sm office building in Leipzig
The Atrium is ASG’s first investment in Leipzig. ASG purchased the asset from a subsidiary of RBS who had taken over the asset as part of a non-performing loan portfolio of one of its borrowers.
The 22,000 square meter building is located in an established office area called “Graphisches Viertel” near Leipzig city center and the central railway station. While considered a secondary city, the Leipzig market shows strong fundamentals with limited supply and a downward trend in vacancy with the Graphisches Viertel submarket emerging as the strongest performer in the area.
This is a “classic” ASG acquisition of a high quality office building located in a good sub-market where active management can create and improve value.