ActivumSG Fund II sells 22,000 m² office building in Leipzig (DE)

ActivumSG Capital Management Ltd., the German focused real estate fund manager, has sold a 22,000 m² office building in Leipzig called “Atrium” only fourteen months after purchasing from a non-performing loan portfolio managed by RBS.
The asset was sold for an undisclosed sum to FLE. FLE also purchased two other office buildings – Main Michelangelo in the Sachsenhausen area of Frankfurt and Grünwalderstrasse near the “Mittlerer Ring” of Munich – from ActivumSG toward the end of last year.
Richard Wartenberg, Head of Acquisitions and Sales at ActivumSG Advisory GmbH, notes: “We were very pleased with the results of this acquisition. Our asset management team did an exceptional job stabilizing the asset by extending major tenants and signing over 2,700 m² of new leases in less than one year. We are also thrilled to once again partner with FLE in closing this transaction. The quick turnaround for us and the attractive yields and stable tenant base FLE is acquiring means that this is truly a win-win situation all around.”
Managing Partner of ActivumSG Capital Management Ltd, Saul Goldstein, further notes that: “Our sale in Leipzig proves that there is demand for high quality assets in strong submarkets. The superior yield compared with core locations should make assets like Atrium in Leipzig particularly attractive for any buyer.” ActivumSG Capital Management Ltd. was advised by Berlin based ActivumSG Advisory GmbH and BNP Paribas Real Estate.
Source: ActivumSG

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