ActivumSG Capital Management has sold its entire stake in Instone Real Estate Group for around €391m.

The turnaround specialist focused on European real estate said its managed funds sold the 18.3m bearer shares to Deutsche Bank which offered to institutional investors.

Instone currently has a market capitalisation of around €791.6m. The sale will increase the free float significantly and contribute to increased liquidity in the Instone shares, ActivumSG said.

The German residential property developer, Instone, joined the Frankfurt Stock Exchange in February.