ADLER Real Estate AG: Acquisition of c. 700 new built apartments in central Berlin
Publication of Insider Information under Art. 17 of the EU Market Abuse Regulation (MAR)
ADLER Real Estate AG: Acquisition of c. 700 new built apartments in central Berlin (Europa City)
- Share deal with regard to the acquisition of c. 700 new built apartments currently under development
- Project development expected to be completed by year-end 2019
- c. EUR 11 million in net rental income expected annually upon lease up
Berlin, 13 November 2017 - ADLER Real Estate AG has today, via a subsidiary, entered into a share purchase agreement with respect to the acquisition of 94.9 percent of the shares in eight project development companies. These project development companies engage in the development of plots in Berlin-Mitte (Europa City) with regard to the project development "Wasserstadt Mitte", comprising the construction of c. 700 residential units with c. 44,000 square meters of living space and additional c. 5,200 square meters of office and retail space. First construction measures have already been implemented. Completion of this project is expected by year-end 2019.
The total consideration to be paid by ADLER until completion of the project amounts up to c. EUR 120 million. Upon completion and lease, which is expected to occur within the next c. three years, ADLER expects an indicative market value of c. EUR 385 million and an annual net rental income of c. EUR 11 million from this project.
Your contact for inquiries: Dr. Rolf-Dieter Grass Head of Corporate Communications ADLER Real Estate AG Phone: +49 (30) 2000 914 email@example.com
13-Nov-2017 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.deLanguage: English Company: ADLER Real Estate AG Joachimsthaler Straße 34 10719 Berlin
Germany Phone: +49 30 398 018 10 Fax: +49 30 639 61 92 28 E-mail: firstname.lastname@example.org Internet: www.adler-ag.com ISIN: DE0005008007, XS1211417362, DE000A1R1A42, DE000A11QF02 WKN: 500800, A14J3Z, A1R1A4, A11QF0 Indices: SDAX, GPR General Index Listed: Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange End of Announcement DGAP News Service
628521 13-Nov-2017 CET/CEST