PRESS RELEASE

Adler Group S. A. announces the sale of a Berlin-based rental portfolio

Luxembourg, 11 September 2023 – Adler Group S. A. (“Adler Group”) today announced the completion of the sale of the so called “Wasserstadt” rental portfolio located in Berlin.

ADLER Real Estate AG, a subsidiary of Adler Group, has sold its shares to a real estate investor advised by Quantum. The Wasserstadt portfolio is in Berlin-Mitte and consists of a lettable area of around 47 thousand sqm. The portfolio was completed in 2019 after a construction period of around two years. It is mainly for residential use and encompasses around 700 flats including more than 200 co-living spaces. The portfolios “Wasserstadt Tankstelle” and “Wasserstadt Kornversuchsspeicher” do not belong to the sold portfolio and will be marketed separately.

The transaction, completed in September, generates net proceeds of approximately €130 million for the Adler Group. The selling price was broadly in line with the valuation (GAV) of the portfolio as of 30 June 2023, resulting in a discount of about 0.7%. “We consider the sale of Wasserstadt as a major milestone in our strategy of further deleveraging our Company as well as focusing on Berlin-based portfolios that provide substantial rent increase potential”, says Thierry Beaudemoulin, CEO of Adler Group. “Given the current market environment, it is also a proof of our ability to execute superior and economic sensible transactions. We are grateful to our teams achieving great results”, Beaudemoulin adds.

The transaction contributes to the stated goal of further deleveraging the group in 2023 and beyond.

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