Focus on residential property
ADLER essentially sees itself as a provider of rented apartments. Consistent with this approach, these account for 49,256 units and thus 97.9 percent of the properties held for permanent letting. Nevertheless, the overall portfolio also includes a small share of commercial units. In a certain sense, these are a by-product as some of the inner-city residential properties also include shop or office space. There were 1,049 such units at the end of 2017, accounting for a 2.1 percent share of the portfolio of properties held for permanent letting.
Property holdings expanded through acquisitions
The number of rental units for permanent letting increased by 5.6 percent in 2017. 834 rental units were sold as a result of measures taken to streamline the portfolio. The holdings were augmented in particular through the acquisition of several portfolios, comprising 701 units in the Bremen area in the first quarter, 192 units in Senftenberg/Brandenburg in the second quarter and 2,505 rental units with an emphasis on fast-growing locations in North Rhine-Westphalia, Lower Saxony and Bremen, which were acquired in the third quarter. ADLER has thus met the objective it set itself of moderately expanding its portfolio.