DGAP-News: ADLER Real Estate acquires portfolio in Berlin from Adler Group
DGAP-News: ADLER Real Estate AG
/ Key word(s): Acquisition
ADLER Real Estate acquires portfolio in Berlin from Adler Group
24.06.2022 / 20:13
The issuer is solely responsible for the content of this announcement.
ADLER Real Estate acquires portfolio in Berlin from Adler Group
Transaction at fair value of EUR 326 million Next step towards further optimization of corporate structuresBerlin, 24 June 2022 – ADLER Real Estate AG ("ADLER Real Estate") today announced the acquisition of a portfolio of residential properties in Berlin from Adler Group S.A. ("Adler Group"), following the approval of the Supervisory Board of ADLER Real Estate as well as the Board of Directors of Adler Group. The portfolio comprises around 1,400 residential units in Berlin and has a market value of EUR 326 million according to the latest evaluation by CBRE as of 31 March 2022. The consideration for ADLER Real Estate considering minority interests, financial liabilities as well as deferred taxes will be approximately EUR 275 million. The transaction is not subject to any conditions and will be completed without delay.
The transaction relates to the optimization of processes and structures within the Adler Group and its subsidiaries and serves in particular the effective management of cash and assets of ADLER Real Estate. The transaction strengthens the overall asset position and asset mix of ADLER Real Estate. The company positions itself as a major provider of apartments in Germany. The business model consists of the long-term leasing of apartments and the generation of sustainable cash flows. From this perspective, the acquisition of the portfolio is in the best interest of ADLER Real Estate.
With a share of 96.72 %, the Adler Group is the majority shareholder of ADLER Real Estate AG.
Contact
Investor Relations:
T +352 278 456 710
F +352 203 015 00
E investorrelations@adler-group.com
24.06.2022 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de
DE000A1R1A42
DE000A11QF02 WKN: 500800, A14J3Z
A1R1A4
A11QF0 Indices: GPR General Index Listed: Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange EQS News ID: 1383765
End of News DGAP News Service
1383765 24.06.2022