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.
