In January 2021, PCP, together with Rantum Capital, became Carestone’s long-term financing partners by entering into a EUR 50 million growth capital facility agreement to facilitate and support Carestone’s continued expansion.
Carestone is a market leading developer of senior living facilities in Germany, with a management team led by CEO Dr. Karl Reinitzhuber. Over the past 20 years, Carestone and its affiliates have delivered more than 15,400 units with a realised volume exceeding EUR 2.2 billion, hence becoming the first institutional platform in the sector. Carestone currently has a secured pipeline valued at more than EUR 1 billion. Carestone is owned by a real estate fund overseen by the investment manager ActivumSG Capital Management.
PCP attaches great importance to the long and proven industry experience of the management team, which has given Carestone a leading position in the German senior living market. Key features of the sector are its underlying stability, but also its significant investment needs to meet the growth demands created by higher life expectancy and other demographic changes. As the first institutional platform of its kind, which controls the entire value chain from procurement to distribution, combined with a strong project pipeline and proven execution track record, PCP believes that Carestone is uniquely placed to continue supplying quality senior living facilities and achieve further success in this very important sector.