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ADLER Real Estate AG: ADLER Real Estate secures acquisition of a portfolio with approximately 6,750 units

ADLER Real Estate AG  / Key word(s): Miscellaneous

24.10.2014 00:23

Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted
by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.


ADLER Real Estate secures acquisition of a portfolio with approximately
6,750 units

  - Acquisition of housing association in Wilhelmshaven 

  - Value of the portfolio considerably above the EUR 200 million mark

Hamburg, 23 October 2014. ADLER Real Estate AG, Frankfurt / M., (ISIN
DE0005008007) has agreed to acquire a majority stake in a large residential
property portfolio comprising of c. 6,750 units. The Company has yet again
secured another major portfolio acquisition in line with its ongoing growth
strategy. The acquisition is expected to close by year end 2014. The
acquisition involves of the takeover of the majority stake in the housing
association Jade mbH located in Wilhelmshaven on the North Sea coast of
Lower Saxony. Jade mbH is not only the holding company owning the assets
but is also the property and facility manager. The Value of the portfolio
stands considerably above the EUR 200 million mark.

Specifically, the Jade mbH comprises of 6,641 residential and 31 commercial
units with 74 apartments for student accommodation. The properties have
been very well maintained and are in a very good condition, with virtually
no deferred maintenance and capex backlog and are located in the better
areas of Germany's largest naval site. About two-thirds of the properties
were built in the 30s and 40s of the last century. Its current net rental
income stands at EUR 20.5 million. The occupancy rate is reaching 93
percent and has benefited from an upward trend in recent times resulting
from the positive economic activity driven by the construction of the new
deep sea water port. Upon completion of the transaction the portfolio will
generate positive cash flows and thus continue to contribute to ADLER'S
ongoing Group success.

The Management Board

For inquiries please contact:

Press: german communications dbk ag  
Jörg Bretschneider
Milchstr. 6 B, 200148 Hamburg, Germany
Phone: +49-(0)40/46 88 33 0, Fax: +49-(0)40/46 88 33 40    

Investor Relations: Hillermann Consulting
Christian Hillermann
Poststraße 14, 20354 Hamburg, Germany
Phone: +49-(0)40/32 02 79 10, Fax: +49-(0)40/32 02 79 114

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Language:     English
Company:      ADLER Real Estate AG
              Alstertor 17
              20095 Hamburg
Phone:        +49 (0)40 - 29 8130-0
Fax:          +49 (0)40 - 29 8130-35
ISIN:         DE0005008007, DE000A1R1A42, DE000A11QF02
WKN:          500800, A1R1A4, A11QF0
Listed:       Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr
              in Berlin, Düsseldorf, Hamburg
End of Announcement                             DGAP News-Service