Consus Real Estate closes disposals for €850m of proceeds

Consus Real Estate AG, a 94 percent subsidiary of Adler Group S.A., has successfully completed the disposal of 24 non-strategic projects.

Together with proceeds received from the successful closing of the disposal of approximately 5,000 residential units, as announced in September 2020, Adler Group generated total proceeds in the amount of €850 million ($1.04 billion). These proceeds will be used to repay existing debt to further smoothen the maturity profile and to reduce the average cost of debt.