Social infrastructure specialist AviaRent has launched its new open-ended special alternative investment fund, CareVision IV, with a target investment volume of €500 mln.
The Luxembourg SICAV-FIS fund will primarily invest in the assisted living plus segment, supplemented by other care properties.
'We now see assisted living as an asset class in its own right. With our focus on the Assisted Living Plus segment, we are concentrating on developing assisted living facilities for senior citizens and will continue to establish, promote and further develop this model in the market,' said Yenna Haack, chief investment officer of AviaRent Invest.
'We take a holistic view of assisted living and believe senior residences should be an integral part of their communities and meet the needs of all stakeholders,' Haack added.
AviaRent has already secured a pipeline of twelve properties for CareVision IV through its partnership with the Convivo Group, a developer and operator of care and retirement properties. The pipeline developments are all Convivo Parks; a concept combining assisted living, day care and shared flats for senior citizens with a housing guarantee and cost cap for residents.
Demand for assisted living is increasing, according to AviaRent data. By 2030, more than four million people in Germany will require nursing care, the fund manager said.
Convivo is currently developing some €500 mln of Convivo Parks with another €1.5 bn worth of properties in the planning stages. More than 80 of these residential parks are set to be built by 2025.