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ADO buys 1,600 more units for €262m
Transactions - SEPTEMBER 18, 2017

ADO buys 1,600 more units for €262m

by Released

Berlin-based housing company ADO Properties, a subsidiary of ADO Group, has signed several purchase contracts for 1,467 apartments and 127 commercial units in Berlin. The purchase prices plus transaction costs add up to €262.5 million ($313.8 million).

The firm’s portfolio of properties will grow to 22,000 housing units in Berlin.

Last month, Shikun & Binui, a global construction, infrastructure and real estate company based in Israel and controlled by Shari Arison, submitted a partial offer to purchase an additional 10 percent of ADO Group. Shikun & Binui currently owns 40.1 percent of ADO’s shares, and the Dayan family and Apollo Global Management jointly own 37 percent of ADO’s shares.

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