ADLER Real Estate AG : Attractive yields compensate investors for known risk pockets
We update our credit opinion and recommendations on Adler Real Estate AG (Adler) and we initiate the coverage on Ado Properties S.A. (ADO) and Consus Real Estate (Consus) as they will be part of the new Adler Real Estate Group. ADO, as of today, will own at least 95% in Adler and ADO has secured ownership of at least 85% in Consus. - >ADO issued € 400m (originally planned: € 500m) senior unsecured notes at a yield of 3.5% (IPT: 3.75%) to refinance part of the € 885m b...ADLER Real Estate provides commercial and residential project development services in the form of improvement, planning, development and construction, as well as asset management services and property management services. Adler is also engaged in the acquisition, sale, renting and financing of real estate. Co. also provides international and national joint venture activities and acts as co-investor in the acquisition of real estate portfolios.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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