About us
Driven by innovation,
integrity and a forward-
thinking mindset
A trusted partner for global capital
in European
real estate.
Founded in 2007 by Saul Goldstein, ActivumSG has established itself as a leading pan-European opportunistic real estate investment manager. We directly and indirectly advise on over €10 billion in real estate and real estate-related investments including affiliated entities and our funds’ portfolio companies.
Our vertically integrated structure, combined with localized expertise across key European markets, enables us to create value at every stage of the investment lifecycle. By controlling the assets we acquire and manage, we build an ecosystem that benefits our investors, driving performance through a deep connection to the assets and a passionate, entrepreneurial mindset.
A trusted partner for global capital in European real estate.
Founded in 2007 by Saul Goldstein, ActivumSG has established itself as a leading pan-European opportunistic real estate investment manager. We directly and indirectly advise on over €10bn in real estate and real estate-related investments including affiliated entities and our funds’ portfolio companies.
Our vertically integrated structure, combined with localized expertise across key European markets, enables us to create value at every stage of the investment lifecycle. By controlling the assets we acquire and manage, we build an ecosystem that benefits our investors, driving performance through a deep connection to the assets and a passionate, entrepreneurial mindset.
“You don’t get opportunistic returns by doing what everyone else does.”
A track record of excellence and innovation
ActivumSG has expanded thoughtfully over its 18-year history, establishing a local presence in all the key European markets where we invest. Since inception, we have successfully raised circa €3 billion in discretionary capital from longstanding global institutional investors, showcasing our deep expertise and commitment to creating value.
We pride ourselves on our ability to adapt and thrive in dynamic market conditions, leveraging our local knowledge to seize opportunities across direct assets, corporate platforms and special situations.
Explore our history and key milestones by clicking on the arrows in the timeline below.
A track record of excellence and innovation
ActivumSG has expanded thoughtfully over its 18-year history, establishing a local presence in all the key European markets where we invest. Since inception, we have successfully raised close to €3 billion in discretionary capital from longstanding global institutional investors, showcasing our deep expertise and commitment to creating value.
We pride ourselves on our ability to adapt and thrive in dynamic market conditions, leveraging our local knowledge to seize opportunities across direct assets, corporate platforms and special situations.
Explore our history and key milestones by clicking on the arrows in the timeline below.
2007
The beginning ActivumSG was established by real estate industry veteran Saul Goldstein, with its first office opening in Berlin.
2008
Capitalizing on distress Amidst the depth of the global financial crisis, ActivumSG seized the opportunity to make its first investment by acquiring Goldpunkt, a 23,000 sqm office building in Berlin.
2012
Exploring special situations ActivumSG executed its first mezzanine loan for a 15,000 sqm office and retail redevelopment project in Frankfurt, marking a significant step in the firm's lending strategy.
2014
Finding returns in corporate platforms ActivumSG's acquisition of the German residential developer formart GmbH & Co. KG, which was subsequently merged with GRK to form Instone, marks the start of its corporate platform strategy, providing investors with an alternative entry point to compelling opportunities in European real estate.
2015
Expanding local footprint ActivumSG expands its local in-country presence by opening the Madrid office to grow operations in Spain, soon establishing itself as a leading real estate investor in the country.
2016
Moving into healthcare Recognizing the demand for senior living facilities driven by Germany's ageing population, ActivumSG made its first move into the healthcare sector in 2016 by acquiring WI-IMMOGroup, later merging with WirtschaftsHaus to form Carestone Group GmbH in 2019.
2018
Instone Real Estate IPO ActivumSG successfully completed the listing of Instone Real Estate (INS.DE) on the Frankfurt Stock Exchange. The IPO was a groundbreaking achievement, being the largest listing of a German residential developer at the time.
2020
Strong fundamentals lead us to the Dutch market Dutch housing developer VanWonen marks the sixth corporate acquisition by ActivumSG funds, building on the team’s successes in assembling and scaling up development platforms in residential and elderly care sectors.
2020
Building a presence in the United Kingdom Seizing the opportunity presented by Travelodge's restructuring, ActivumSG successfully completed its first UK transaction.
2022
ActivumSG opens its sixth office in Denmark Now operating from six offices in five European countries, the company’s local expertise continues to drive value creation across its diverse portfolio.
2025
ActivumSG reaches €1 billion milestone in hospitality assets As an active investor and manager of European hotels, the opening of the 471-room luxury SLS Barcelona has increased ActivumSG’s exposure to over €1 billion across its direct assets and platforms.
2007
2025
our offices
