Alder Real Estate has agreed to acquire a majority stake in a 6,750-unit residential property portfolio in Germany. The value of the portfolio is considerably above €200 mln, the Frankfurt-listed property company said.
Alder Real Estate has agreed to acquire a majority stake in a 6,750-unit residential property portfolio in Germany. The value of the portfolio is considerably above €200 mln, the Frankfurt-listed property company said.
The acquisition is expected to close by end- 2014. It involves of the takeover of the majority stake in the housing association Jade located in Wilhelmshaven on the North Sea coast of Lower Saxony.
Jade is the holding company owning the assets as well as the property and facility manager. The portfolio comprises 6,641 residential and 31 commercial units with 74 apartments for student accommodation.
