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White & Case advises Adler Group on €1.05 billion residential portfolio sale and reduction of debt ratio

Global law firm White & Case LLP has advised Adler Group S.A. on the sale of 14,400 residential and commercial units, predominantly located in medium-sized cities in eastern Germany, to international investment company KKR and German real estate specialist Velero. 

The agreed purchase price represents a valuation of the portfolio of approximately €1.05 billion. The Adler Group will reduce its loan-to-value ratio to below 50 percent after completion of the transaction.

Together with the recently completed sale of a portfolio to LEG Immobilien S.E., the sale of a stake in Brack Capital Properties N.V. and the granting of a call option regarding the remaining portfolio, on which White & Case also advised, the strategic process of disposing of existing, non-strategic real estate is now largely complete.

The White & Case team which advised on the transaction was led by partners Andreas Lischka and Rostyslav Telyatnykov (both Frankfurt) and included partners Gernot Wagner, Roger Kiem, Sebastian Pitz, Bodo Bender, Tim Bracksiek (all Frankfurt) and Tilman Kuhn (Düsseldorf, Brussels), local partners Patricia Galts, Sebastian Stütze (both Frankfurt) and Mathis Rust (Düsseldorf) and associates Nane Jütting, Markus Stelzig, Sandra D‘Ascenzo, Patrick Schoelles, Agmal Bahrami, Markus Fischer and Gürkan Akbaba (all Frankfurt).

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