The property portfolio
As of 30 June 2019, ADLER held a total of 58,095 rental units with a total space of 3.5 million square metres and an annualised net rent (including parking spaces and other areas) of EUR 219.5 million. The fair value of the total portfolio (investment properties and inventories) amounted to EUR 5,008.2 million. The regional focus is on Lower Saxony (18,312 units), North Rhine-Westphalia (13,808 units) and Saxony (9,679 units). At the end of December 2018, around 3,700 non-core residential units have been sold in two separate transactions (notarised in Q1 2019), reducing the overall portfolio accordingly.
The residential properties also include a small number of commercial units which consist entirely of shops and offices of the kind that can often be found in city-centre residential properties. As at the end of the first half of 2019, these units numbered 898 and accounted for 1.5 percent of the properties held for permanent letting.