DGAP-News: ADLER Real Estate AG / Key word(s): Miscellaneous
ADLER Real Estate AG: ADLER Real Estate takes over residential
portfolio in and around Helmstedt
14.02.2014 / 15:04
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ADLER Real Estate takes over residential portfolio in and around Helmstedt
- Share at portfolio from CORESTATE Capital AG acquired
- Sustained inventory management planned
- Assumption of social charter and employment guarantee
Hamburg, 14. February 2014. ADLER Real Estate AG, Frankfurt/M., (ISIN
DE0005008007) has acquired a share at a further portfolio consisting of
approx. 2,400 apartments in Lower Saxony. After conclusion of the contract
at the turn of the year, the involvement in a housing association in
Helmstedt now became legally effective. The share was acquired from
CORESTATE Capital AG. The apartments are located in Helmstedt, in the
eastern part of the Brunswick and Wolfsburg area such as in the south of
Helmstedt. The contracting parties have agreed not to disclose any
information on the conditions of the acquisition.
Connected with the acquisition of the involvement in the housing
association WBG GmbH in Helmstedt is the commitment to guarantee the
employment of currently ten staff members such as to take over the
company's existing administrative board. 'We take this obligation very
seriously and evaluate the employment guarantee for the personnel as a
benefit for us, as they have detailed knowledge of the portfolio', comments
Axel Harloff, CEO of ADLER Real Estate AG. Additionally to the employment
guarantee the social charter also affects the management of the apartments,
as no larger partial sales, no privatizations and no renovations which
upgrade apartments to luxury status are allowed. 'We evaluate also these
agreements as positive, as we are interested in a long-term loyalty with
the tenants', Mr. Harloff continues.
ADLER pursues sustained objectives with this investment. By investments in
the assets, in particular in still vacant apartments, new tenants shall be
attracted. Projected investment volume amounts to the million range. Due to
the economic success of the entire area, based on the achieved growth of
Volkswagen Group, ADLER expects increasing demand for attractive and
well-priced living spaces.
Being in the real estate business for almost 15 years and initially focused
on the development of commercial properties and on residential
construction, since two years ADLER Real Estate AG focuses on acquisition
and management of a substantial residential real estate portfolio
throughout Germany. After closing of the acquisition of WBG GmbH ADLER Real
Estate holds shares in portfolios with more than 10,000 apartments.
For inquiries, please contact:
Media: german communications dbk ag
Jörg Bretschneider
Alsterufer 34, 20354 Hamburg, Germany
Phone: +49-(0)40/46 88 33 0, Fax: +49-(0)40/47 81 80
presse@german-communications.com
Investor Relations: Hillermann Consulting
Christian Hillermann
PoststraÃe 14, 20354 Hamburg, Germany
Phone: +49-(0)40/32 02 79 10, Fax: +49-(0)40/32 02 79 114
c.hillermann@hillermann-consulting.de
End of Corporate News
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14.02.2014 Dissemination of a Corporate News, transmitted by DGAP - a
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Language: English
Company: ADLER Real Estate AG
Alstertor 17
20095 Hamburg
Germany
Phone: +49 (0)40 - 29 8130-0
Fax: +49 (0)40 - 29 8130-35
E-mail: info@adler-ag.com
Internet: www.adler-ag.com
ISIN: DE0005008007, DE000A1R1A42,
WKN: 500800, A1R1A4
Listed: Regulierter Markt in Frankfurt (Prime Standard);
Freiverkehr in Berlin, Düsseldorf, Hamburg
End of News DGAP News-Service
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252752 14.02.2014
DGAP-News: ADLER Real Estate AG: ADLER Real Estate takes over residential portfolio in and around Helmstedt
| Source: EQS Group AG