The newest fund established by Activum SG Capital Management has acquired two sites in Spain’s Costa de Sol region for luxury residential developments. The projects include the development of up to 40 prime condominiums with communal gardens and underground parking in Marbella as well as a 119-unit condominium development with a rooftop swimming pool on a plot in downtown Estepona, the beach resort near Marbella. The total cost of the investments including the purchase of the land and construction is estimated at €50m. No completion date has been announced. Activum SG’s Spanish affiliate, ASG Iberia, advised the fund on the purchase, while Ismael Mérida Arquitectos is assisting on the project.
