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Adler Group Sells Stake in Brack Capital Properties to LEG Immobilien
Adler Group S.A. has announced the sale of its 62.78% stake in Brack Capital Properties N.V. (BCP) to LEG Immobilien SE. The deal is valued at €219.3 million, providing Adler with net cash proceeds that help stabilize its balance sheet. This move is in line with Adler's strategic business plan following the release of its audited financial results for 2022 and 2023.
BCP's portfolio includes 9,101 residential units across Germany, in areas like North-Rhine Westphalia and Leipzig. The company also owns developments in Grafenberg and Gerresheim with potential for 1,650 apartments. The transaction involves a two-stage closing with the first tranche of 52.68% expected to close by January 2025, and the remaining 10.10% under a public offer closing by January 2026.
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