No financial details were given. But the asset marks the third acquisition by Activum and the first together in Germany with STAM Europe, which has expertise in the structuring and management of unlisted real estate investment funds. Saul Goldstein, Activum managing partner and former head of Cerberus Germany, says the nation is, "one of the few real estate investment markets offering solid risk-adjusted returns for investors that focus on asset management."
Activum is a Jersey, England-based real estate investor and manager founded in 2007. It expects to invest about $677 million during the next three years, and is capitalizing on opportunities to reposition stressed and distressed real estate in Europe. Stam Europe was formed in 1997.
Allan Saundersonis a managing editor of Property Finance Europe and a contributor to GlobeSt.com.Want to continue reading?
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