Adler Group S.A. Sells North Rhine-Westphalia Portfolio

Adler Group S.A. has reached an agreement to sell its North Rhine-Westphalia-based portfolio to Orange Capital Partners and One Investment Management. The transaction involves 6,788 rental units valued at €422.5 million. The deal could generate around €215 million in net cash after repaying secured financing and transaction costs. The first phase of the deal is expected to conclude by January 31, 2025. Post-transaction, Adler will focus its rental portfolio within Berlin, consolidating approximately 18,000 units.

The sale includes transferring 89.9% of Adler Group’s shares in subsidiaries related to the Cosmopolitan portfolio, with a remaining 10.1% put option available later. The North Rhine-Westphalia assets are mostly situated in cities like Duisburg and Düsseldorf, boasting a 97.4% occupancy and an average rent of €6.30 per square meter per month.

Adler's CEO, Dr. Karl Reinitzhuber, emphasized the agreement's role in optimizing their portfolio, highlighting Berlin's market potential. Chairman Stefan Brendgen noted this as a key step in their strategic execution.