PORTFOLIO: FUND V
ASG establishes Carestone – Germany’s largest developer of senior housing
ASG has integrated two senior housing developers, WI-IMMOGroup and WirtschaftsHaus, into a new entity called Carestone to create Germany’s largest platform. Carestone plans to deliver more than 2,500 senior housing units in 2020 as part of its €1.4 billion pipeline of projects. Carestone is the next step in ASG’s strategy of creating a senior housing developer with the scale and national reach to address the estimated 300,000-unit shortfall facing Germany by 2030. ASG took the corporate acquisitions route to access the opportunities arising from Germany’s ageing population, highlighting how it takes alternative approaches to create value for its investors from strong investment themes.