Jersey-based fund manager ActivumSG (ASG) has acquired a retirement living developer in Germany to build a €1.2bn (£1.08bn) pipeline in the country.
Acquired for ASG’s Fund V, the company will take over the project development activities of WirtschaftsHaus. Combined with ASG’s 2016 purchase of WI-IMMOGroup, ASG has gained market leadership in the senior housing development sector in Germany with plans to deliver a total of 1,500 new units per year.
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