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31 May 2012
Frankfurt am Main, Germany
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20 June 2012
London
Goldstein's Activum buys second property in Germany, from WestLB
Activum SG, the Jersey-based opportunity fund founded and run by former Cerberus Europe MD Saul Goldstein, has acquired its second property in Germany, an 8,800 sq.m. office building in Frankfurt from WestFonds, a subsidiary of restructuring landesbank WestLB. The two sides agreed not to release price details.Goldstein said that the building requires an active owner and aggressive marketing plan. "We can attract tenants because we will offer excellent space for a rent less than half of that for comparable space in the banking district. In today's economic climate tenants want high quality space and flexibility, yet cannot afford to pay premium rents," he said. (Full story to be published in PFE 130 on Monday 20 July)