ActivumSG Capital Management fund to build retirement villages in the U.K.

A new fund established by opportunistic real estate fund manager ActivumSG Capital Management has made its first investment.

The fund, ActivumSG Real Estate Fund VII, has established a platform to develop and operate retirement villages in the United Kingdom. The platform will begin construction of its first retirement villages in second half 2022 for delivery in 2024, with a projected gross development value of £220 million ($296 million).

The two village developments comprise a total of 290 independent and assisted living apartments, all benefiting from a centrally integrated leisure, amenity and care hub.

“Our Pan-European fund has made a flying start with a signature investment that adds a new geography to our residential strategies,” said Saul Goldstein, founder and CEO of ActivumSG. “We will work closely with the management team to build the business into one of the U.K.’s largest platforms.

ActivumSG Real Estate Fund VII has assembled a st