Brief: Adler Real Estate Agrees Disposal Of 5,000 Residential Assets

Adler Real Estate AG

18/09/2020 06:31

Sept 18 (Reuters) - Adler Real Estate AG  ADLG.DE :
    * SUCCESSFUL DISPOSAL OF C.5,000 UNITS AT PREMIUM TO BOOK
VALUE
    * CLOSING IS EXPECTED BY END OF YEAR
    * UNITS GENERATE NET RENTAL INCOME OF EUR 18.6M PA AND HAVE
A 12%
VACANCY RATE WITH AN AVERAGE RENT OF 5.46 EUR/SQM/MONTH.
    * NET PROCEEDS OF C.EUR 237M, AFTER DEBT REPAYMENT, TAXES
AND
FEES, WILL BE USED TO FURTHER STRENGTHEN BALANCE SHEET, IN LINE
WITH ADLER'S ONGOING DELEVERAGING COMMITMENTS

Source text for Eikon:  ID:nEQ79H6CNa 
Further company coverage:  ADLG.DE 

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