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Activum SG buys German senior housing developer Wirtschaftshaus

Activum SG Capital Management Ltd. became the biggest developer of senior homes in Germany after its Fund V investment vehicle acquired the project development activities of Wirtschaftshaus AG for an undisclosed amount, Property Funds World reported.

The latest deal follows the real estate investment company's 2016 acquisition of another German senior housing company, WI-IMMOGroup GmbH, via one of its funds, according to the Jan. 8 report.

Wirtschaftshaus and WI-IMMOGroup collectively construct 1,500 retirement homes or assisted living facilities in Germany per year, with a total pipeline valued at an estimated €1.2 billion.

Fund V has so far committed approximately 85% of the €489 million of capital it raised at its December 2017 final close, the report added.