Activum SG, a European real estate investor and manager, has acquired a 5,500-m[sup]2[/sup] retail site leased to MediaMarkt in Cologne from troubled property group Orco.
Activum SG, a European real estate investor and manager, has acquired a 5,500-m2 retail site leased to MediaMarkt in Cologne from troubled property group Orco.
The parties agreed not to disclose the transaction volume. It is the fourth acquisition by Activum SG Fund I. The building is located at the well-known area of Cologne-Marsdorf at Max-Planck-Strasse, one of the top destination retail areas of Cologne.
Activum SG Capital Management is a Jersey-based real estate fund manager focusing on turnaround situations of commercial real estate in Germany. The group expects to invest EUR 500 mln during the next three years.
