The property portfolio

At the midyear stage of 2023, ADLER Real Estate AG held a total of 11,161 rental units that are intended to be held permanently and are therefore recognised in the balance sheet as investment properties. They are mainly located in North Rhine-Westphalia and Berlin and comprise a total area of 723.840 square metres. The 9,600 units of the subsidiary Brack Capital Properties NV (BCP) are contained in the balance sheet item “Non-current assets held for sale“ due to the onging efforts to sell the portfolio. The operational performance data for the portfolio consisting of the investment properties was as follows in the first half of 2023: The contracted rent/square metre/month averaged EUR 7.28 at the end of the reporting period, and the vacancy rate (excluding units under renovation) reached 1.6 percent. The fair value of the total portfolio, calculated according to IFRS, amounted to EUR 1,721.3 million at the end of the first half of 2023.