Adler invests in German apartments

Adler Real Estate is to acquire a portfolio of over 2,000 apartments and 55 commercial property assets in Germany.

The German listed company said the investment volume amounts to around €140 mln, including the assumption of bank financing.

The residential properties are located primarily in Berlin, Dresden, Leipzig, and Munich North Rhine-Westphalia. The 2,183 apartments and 55 commercial units in the portfolio have a living area of over 156,000 m2. The transaction is subject to bank approval.

Adler is to finance the deal from the proceeds of a recent corporate bond issue. In April, Adler announced the acquisition of 1,400 himes. The company's current portfolio consists of 3,700 residential units with a total investment volume of €200 mln.

Residential portfolio sales will be one of the themes of PropertyEU's Germany Investment Briefing taking place in Paris on the morning of 23 May. Click on the link for more information and to secure your place.