DGAP-News: ADLER Real Estate AG / Key word(s): Miscellaneous
ADLER Real Estate AG: ADLER Real Estate acquires portfolio with around
6,750 units
02.02.2015 / 08:00
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Corporate News
ADLER Real Estate acquires portfolio with around 6,750 units
- Acquisition of housing association in Wilhelmshaven
- Value of the portfolio considerably above the EUR 200 million mark
Hamburg, Germany, 30 January 2015. ADLER Real Estate AG, Frankfurt am Main,
Germany (ISIN DE0005008007) has successfully completed the acquisition of a
portfolio located in Lower Saxony comprising c. 6,750 residential units in
Wilhelmshaven, a transaction that was notarised in Q4 2014. Once these
assets are included, ADLER's total property portfolio will increase to more
than 32,000 residential units. The acquisition includes the majority
interest in housing association Jade GmbH in Wilhelmshaven, on the North
Sea coast of Lower Saxony, as well as its subsidiaries, which are
responsible for property and facility management. The portfolio value is
considerably above the EUR 200 million mark.
Specifically, Jade GmbH comprises 6,641 residential and 31 commercial units
as well as 74 apartments destined to student accommodation. The properties
have been very well maintained and are in a very good condition, with
virtually no deferred maintenance or capex backlog and are mainly located
in the better areas of Germany's largest naval site. About two-thirds of
the properties were built between the 1930s and 1940s and its current net
rental income stands at c. EUR 20.5 million. The portfolio's occupancy rate
is c. 93 percent - a ratio that is on the rise. "We generate positive cash
flow from our rental activities after deduction of all other costs," said
Axel Harloff, CEO of ADLER Real Estate AG. "We expect continued
professional management to result in a rise in the rental ratio and an
increase in the value of the portfolio."
The portfolio benefits from the high quality of the units on offer as well
as a further economic upturn in Wilhelmshaven resulting from the positive
economic activity driven by the construction of the new deep sea water
port.
For inquiries please contact:
PRESS: german communications dbk ag
Jörg Bretschneider
Milchstr. 6 B, 20148 Hamburg, Germany
Phone: +49-(0)40/46 88 33 0,
Fax: +49-(0)40/46 88 33 40
presse@german-communications.com
INVESTOR RELATIONS: Hillermann Consulting
Christian Hillermann
PoststraÃe 14, 20354 Hamburg, Germany
Phone: +49-(0)40/32 02 79 10
Fax: +49-(0)40/32 02 79 114
c.hillermann@hillermann-consulting.de
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02.02.2015 Dissemination of a Corporate News, transmitted by DGAP - a
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Language: English
Company: ADLER Real Estate AG
Gänsemarkt 50
20354 Hamburg
Germany
Phone: +49 (0)40 - 29 8130-0
Fax: +49 (0)40 - 29 8130-99
E-mail: info@adler-ag.com
Internet: www.adler-ag.com
ISIN: DE0005008007, DE000A1R1A42, DE000A11QF02
WKN: 500800, A1R1A4, A11QF0
Listed: Regulierter Markt in Frankfurt (Prime Standard);
Freiverkehr in Berlin, Düsseldorf, Hamburg
End of News DGAP News-Service
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318215 02.02.2015
DGAP-News: ADLER Real Estate AG: ADLER Real Estate acquires portfolio with around 6,750 units
| Source: EQS Group AG