Activum SG, a European real estate investor and manager, and partner, STAM Europe, have acquired a 19,500 m² office building in Hanover / Germany from Immobilienverwaltungsgesellschaft Grammophon Büropark mbH, a wholly owned subsidiary of EuroHypo AG. The parties agreed not to disclose the transaction volume.
It is the third acquisition by Activum SG and the first together with STAM Europe in Germany.
The building known as "Grammophon Park" is located Podbielskistrasse 158-168 in Hannover.
Saul Goldstein, Managing Partner of Activum SG Capital Management, explains: "This is a well-located, modern office building and requires an active owner. In today's environment, Germany is one of the few real estate investment markets offering solid risk-adjusted returns for investors that focus on asset management."
Oliver Zimper, Managing Partner of STAM Europe Germany, comments "The principals of Activum SG and STAM Europe have worked with each other for many years and together we were able to act quickly to meet the seller's objectives and timeframe."
Source: Citigate
