Sale of more than 22,000 homes on the way

Dusseldorf, Berlin Adler Real Estate has taken the first step in selling almost the entire residential portfolio. In principle, the general meeting on Wednesday gave the board of directors of the real estate company belonging to the ailing Adler Group a blank power of attorney for the intended transaction, which is intended to reduce high debts. The management plans to sell up to 22,301 of 23,475 residential and commercial units, explained the board members Thierry Beaudemoulin and Sven-Christian Frank in a report attached to the agenda. So far, however, no negotiations have been held, according to the company.

The entire Adler Group has a total of more than 7.5 billion euros in debt. The company, which is listed on the SDax, wants to reduce these in the coming months, primarily through sales from the portfolios of subsidiaries such as Adler Real Estate or Consus Real Estate.