Convivo builds senior apartments for new AviaRent fund
AviaRent has teamed up with the developer and operator Convivo for its new open-ended spezialfonds “Care Vision IV”. The fund will initially finance twelve “Convivo Parks”, facilities which provide assisted living, shared senior-citizen apartments and adult day care. Convivo intends to develop more than 80 of these residential parks by 2025, with some also offering child care. In contrast to previous CareVision funds, the vehicle, which has an investment volume of approx. €500mn, will focus primarily on senior residences rather than nursing homes. It also aims to invest in care facilities that are refinanced by the state. The fund will distribute a yield of 4.75% p.a.
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