Turnaround specialist buys Berlin scheme from insolvent owner

Activum SG Capital Management has acquired a 22,000-m[sup]2[/sup] office and retail complex in Berlin from an insolvent company. The unnamed vendor and Activum agreed not to disclose the transaction volume for the property located in Greifswalder Strasse in the Prenzlauer Berg area of the German capital. This is the first deal by Jersey-registered Activum since it was established in July 2007 to focus on 'turnaround' and 'special situation' opportunities in real estate, mainly in Germany.

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