Activum SG Capital Management Ltd. has acquired the 38,000 m² mixed-use building in Augsburg called “Fuggerstadt-Center” (“FC”) out of insolvency.
Constructed and refurbished from 1997-1998, FC has a mixture of retail and food space, entertainment, office, storage, and parking. The building is well situated at the Augsburg main train station and benefits from good visibility, public transport access and a high potential for pedestrian traffic. Augsburg itself is a very strong regional market thirty minutes by train from Munich and boasts a high purchasing power, making it attractive to retailers.
Activum SG Advisory GmbH, together with local developer “HS Projektentwicklungs- und Immobiliengeschäftsfuehrung“ will pursue a restructuring plan to improve the retail area and layout and technical fit out of the building, and will begin pre-leasing during the planning phase.
As Head of Acquisitions of Activum Advisory GmbH, Richard Wartenberg notes, “We are thrilled to expand our regional footprint with the acquisition of FC. The building has a lot of potential and once the redevelopment is completed, will help to revitalize the area near the Augsburg train station. It will be a win-win situation for both Activum and the City of Augsburg.”
Activum SG Capital Management Ltd. was advised through the insolvency process by Schalast & Partner.
Source: Activum SG