Adler Group to sell €1 billion real estate portfolio to KKR, Velero

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By Charlie Innis (January 13, 2022, 5:46 PM EST) — Adler Group SA is parting with a €1.05 billion ($1.2 billion) portfolio of residential and commercial properties in a agreement with KKR and Velero, as the German real estate company seeks to reduce its debt, according to an announcement on Thursday.

The Berlin-based Adler Group said it expected to earn 600 million euros in net proceeds from the deal. The assets of the transaction include 14,400 residential and commercial properties, mostly located in mid-sized cities across East Germany. The deal values ​​the portfolio at 1.05 billion euros, according to the announcement.

With the expected cash proceeds, the Adler Group aims to deleverage its…

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