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02.02.2015

GSK advises Adler Real Estate AG on the acquisition and financing of a majority shareholding in a residential property portfolio with about 6,750 units

GSK Stockmann + Kollegen advised Adler Real Estate AG, Frankfurt/M., on the acquisition and financing of a majority shareholding in a residential property portfolio comprising approx. 6,750 units.

The acquired portfolio comprises the majority shareholding in Wohnungsbaugesellschaft Jade mbH and its subsidiaries, which are responsible for the property and facility management. The portfolio is valued at more than Euro 200 million. With this major acquisition Adler Real Estate AG emphasises its objective to continue growth and become a dominant player in the field of residential property maintenance and management in Germany.

Wohnungsbaugesellschaft Jade mbH, located in Wilhelmshaven at the North Sea Coast of Lower- Saxony, has 6,641 residential and 31 commercial units as well as 74 student apartments. Most of the centrally positioned properties in Germany’s biggest marine location are in a very solid condition with almost no backlog of renovation. The annual net rental income currently amounts to approx. Euro 20,5 million. The occupancy rate is close to 93 %, continuing to grow. The portfolio benefits from the high quality standard of these housing estates as well as from a further economic growth in Wilhelmshaven. The newly constructed deep-sea port in particular is expected to boost the economy.


GSK's advisory services comprised the advice and negotiation of a complex share purchase and transfer agreement including tax law issues as well as the entire financing of the transaction.



Advisors Adler Real Estate AG:
GSK Stockmann + Kollegen: Max Wilmanns (Corporate/M&A), Dr. Andreas C. Peters (Corporate/M&A) both lead corporate, Agnes Bosse (Finance) lead financing, Dr. Thilo Franke (Real Estate), Dr. Petra Eckl (Tax), Dr. Philipp M. Kuhn (labor law), Associates: Anneke Focken (Corporate/M&A), Marc Hubertus Kirchner (Finance), Dominik Berka (Tax)


The deal news are available as download.


Contact GSK Stockmann + Kollegen:
Max Wilmanns
Dr. Andreas C. Peters
Agnes Bosse