German focused real estate fund manager Activum has acquired the 38,000 m2 Fuggerstadt-Center in Augsburg.
German focused real estate fund manager Activum has acquired the 38,000 m2 Fuggerstadt-Center in Augsburg.
The mixed-use building was acquired out of insolvency by Activum SG Fund II. The financial details of the purchase were not disclosed.
Constructed and refurbished from 1997-1998, Fuggerstadt-Center has a mixture of retail and food space, entertainment, office, storage and parking. Augsburg is a regional market 30 minutes by train from Munich.
Berlin-based Activum, together with local developer HS Projektentwicklungs- und Immobiliengeschäftsfuehrung will undertake a restructuring programme to improve the retail area and layout and technical fit out of the building.
Activum was advised through the insolvency process by Schalast & Partner.
