Global law firm White & Case LLP has advised Adler Group S.A. on the sale of the Wasserstadt rental portfolio located in Berlin to a real estate investor advised by Quantum.
The Wasserstadt portfolio is in Berlin-Mitte and consists of a lettable area of approximately 47,000 square metres. The portfolio was completed in 2019 after a construction period of around two years. It is mainly for residential use and encompasses around 500 flats and more than 200 co-living spaces. The transaction, completed in September 2023, generates net proceeds of approximately €130 million for the Adler Group.
The Adler group of companies is one of Germany's largest landlords, holding 26,202 units with an aggregated gross asset value of approximately €5.2 billion (on December 31, 2022).
The White & Case team in Frankfurt which advised on the transaction was led by partners Andreas Lischka and Stefan Bressler and included partners Gernot Wagner, Roger Kiem, Bodo Bender and Yannick Adler, local partners Patricia Galts and Markus Fischer and associates Patrick Hinz, Nane Jütting, Markus Stelzig, Johanna Mayer, Pia Berger, Julius Kiss, Angela Fleck and Lina Fiedler.
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