DGAP-News: ADLER Real Estate AG / Key word(s): Disposal
Adler Real Estate: EUR 75.7m residential assets disposal at premium to book value
Berlin, 21 December 2020 - Adler Real Estate AG (ADLER), 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. It is expected to close at the end of March 2021.
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21.12.2020 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
ADLER Real Estate AG
Joachimsthaler Straße 34
+49 30 39 80 18 10
+49 30 39 80 18 199
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Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange
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