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ADLER Real Estate AG: ADLER Real Estate subsidiary acquires 4,300 residential units

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

28.10.2014 / 19:54


ADLER Real Estate subsidiary acquires 4,300 residential units

- ESTAVIS AG successfully concludes portfolio acquisition

- Successful refinancing of portfolio worth EUR 225 million

- Increase in Group portfolio to approx. 32,000 units already secured

Hamburg, Germany, 28 October 2014. ESTAVIS AG, Berlin, Germany, a subsidiary of ADLER Real Estate AG, Frankfurt am Main, Germany (ISIN DE0005008007), today successfully concluded the acquisition of a portfolio previously agreed in early March 2014 with payment of the purchase price. ADLER's Group portfolio therefore includes some 25,000 residential units. An agreement was concluded last week for a further 6,750 units, increasing ADLER's Group portfolio to approx. 32,000 residential units. The roughly 4,300 residential units with some 284,000 square meters of living space acquired by ESTAVIS are divided over the German States of Bavaria, Berlin, North Rhine-Westphalia, Saxony and Saxony-Anhalt. The annual net rental income currently amounts to approx. EUR 13.7 million. Together with the existing and the secured portfolio, ADLER will generate annual rental income of roughly EUR 108 million.

Some 650 additional ESTAVIS residential units were refinanced in connection with ESTAVIS' portfolio acquisition; the total refinancing volume relates to real estate with a market value of approx. EUR 225 million. "This refinancing will help further boost our financial position and increase positive cash flows from ongoing portfolio management," said Axel Harloff, CEO of ADLER Real Estate AG. A total of 3,400 ESTAVIS residential units will be held long term to further optimise the portfolio, while the remaining roughly 900 units will be sold off as a whole or as individual units.

For inquiries please contact:

Press: german communications dbk ag
Jörg Bretschneider
Milchstr. 6 B, 20148 Hamburg, Germany
Phone: +49-(0)40/46 88 33 0
Fax: +49-(0)40/46 88 33 40
presse@german-communications.com

Investor Relations: Hillermann Consulting
Christian Hillermann
Poststr. 14, 20354 Hamburg, Germany

Phone: +49-(0)40/32 02 79 10
Fax: +49-(0)40/32 02 79 114
c.hillermann@hillermann-consulting.de


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