Luther supports Adler Real Estate AG in the acquisition of a real estate portfolio with over 2,500 rental units
On 11 September 2017, Adler Real Estate AG has acquired a portfolio of around 2,500 rental units in mostly high growth locations. It chose law firm Luther as its adviser for the transaction.
Around 60% of the 2,453 residential units and 52 commercial units are located in North Rhine Westphalia with a focus on the Ruhr region and Eastern Westphalia, another 15% in each southern Lower Saxony and Bremen, and just shy of 10% in the Schleswig-Holstein parts of the greater Hamburg area. The rents from the newly acquired properties amount to around 9 million euros per year.
The further details of the transaction are covered by a confidentiality agreement between the parties.
About Adler Real Estate AG
Adler Real Estate AG is a Berlin-based real estate company and listed at the Frankfurt stock exchange on the SDAX. Its activities are focused mainly on the acquisition and management of residential real estate in Germany. The real estate company has around 500 employees and generated an EBITDA of approximately 124.3 million euros in 2016.
For Adler Real Estate AG
Luther, Antitrust Law: Dr. Helmut Janssen, LL.M. (Partner, based in Brussels)