German focused real estate fund manager Activum SG Capital Management has acquired the Atrium office building in Leipzig from landlord the Royal Bank of Scotland.
German focused real estate fund manager Activum SG Capital Management has acquired the Atrium office building in Leipzig from landlord the Royal Bank of Scotland.
The purchase was made on behalf of Activum's Fund II. Financial details were not disclosed.
Atrium is a 22,000 m2 office scheme located in the Graphisches Viertel district near Leipzig city center and the central railway station. The asset is 82% let to a number of tenants including Kabel Deutschland, IBM Deutschland and TAS.
'This is a high-quality asset located in a good submarket where active management can create and improve value,' said Activum's managing partner Saul Goldstein. '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.'
Activum SG Capital Management was advised by Berlin-based Activum SG Advisory and Noerr. BNP Paribas Real Estate acted for the vendor.
