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Adler Group S.A.: EUR 75.7m residential assets disposal at premium to book value

·2-min read

DGAP-News: Adler Group S.A. / Key word(s): Disposal
21.12.2020 / 07:00
The issuer is solely responsible for the content of this announcement.

Adler Group: EUR 75.7m residential assets disposal at premium to book value

Berlin, 21 December 2020 - Adler Real Estate AG (ADLER RE), c. 95% subsidiary of Adler Group S.A. (Adler Group), entered into a binding sale and purchase agreement with OMEGA AG, Munich and a real estate family office, to dispose of 1,605 residential and commercial units with a gross asset value (GAV) of EUR 75.7m at a slight premium to book value as of Q3 2020. This transaction further demonstrates the resilience of the German residential real estate market at a time of heightened macroeconomic uncertainty. The properties are primarily located in Borna, Osterholz-Scharmbeck and Schwanewede. The units generate net rental income of EUR 4.8m pa and have a 17.45% vacancy rate which peaks at up to 27% with an average rent of 5.21 EUR/sqm/month.

The transaction is a natural next step in Adler Group's strategy to streamline its portfolio and will have a positive impact on all portfolio KPIs. LTV will be reduced by 30bps and is a further step to reach our mid-term target of around 50%. It is expected to close at the end of March 2021.

Contact

Investor Relations:
T +352 278 456 710
F +352 203 015 00
E investorrelations@Adler-group.com


21.12.2020 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

Language:

English

Company:

Adler Group S.A.

1B Heienhaff

1736 Senningerberg

Luxemburg

Phone:

+352 278 456 710

Fax:

+352 203 015 00

E-mail:

investorrelations@adler-group.com

Internet:

www.adler-group.com

ISIN:

LU1250154413

WKN:

A14U78

Indices:

SDAX, FTSE EPRA/NAREIT Global Index, FTSE EPRA/NAREIT Developed Europe Index, FTSE EPRA/NAREIT Germany Index

Listed:

Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange; London, Luxembourg Stock Exchange, SIX

EQS News ID:

1156477


 

End of News

DGAP News Service

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