Adler Group sells stake in Berlin property portfolio

Adler Group sells stake in Berlin property portfolio

Adler Group has sold a portfolio of residential and commercial properties in Berlin (Waypoint portfolio) together with its joint venture partner.

The portfolio comprises around 1,200 residential and commercial units.

Considering the purchase price portion attributable to the joint venture partner and other minority interests as well as taking into account deferred taxes, Adler Group will realize a capital inflow of approximately €170 million.

The transaction is not subject to any conditions and will be completed without delay.

Despite a challenging market environment, Adler Group was able to sell the portfolio to a price at around 2 percent below book value and thus deliver on its pledge of further improving its liquidity position in 2022 and beyond.

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