ASG acquires second developer of senior housing in Germany

ActivumSG Capital Management (ASG), an investor in special opportunities in German and Spanish real estate, has acquired a second developer of senior housing in Germany, WirtschaftsHaus AG, for an undisclosed sum.

“Germany needs to accommodate 300,000 more of its senior citizens by 2030, and we identified this as a huge opportunity for establishing a specialist developer of scale,” said Saul Goldstein, ASG’s founder and managing partner. “Purchasing the project development activities of WirtschaftsHaus is another major step forward in this strategy and highlights how we have been favoring the unconventional corporate route to invest in attractive real estate themes in Germany on behalf of our investors.” The two companies, combined, deliver 1,500 units in retirement homes or assisted living facilities a year and their pipeline is worth an estimated €1.2 billion ($1.4 billion), effectively making ASG Germany’s biggest developer of housing for the elderly.