One Investment Management Ltd (OneIM) and Orange Capital Partners (OCP) have an agreement to buy 89.9 percent of the shares in the entities holding Adler Group’s North Rhine-Westphalia-based Cosmopolitan real estate portfolio. The strategic transaction encompasses 6,788 residential units and is valued at €422.5 million ($436 million).
The Germany-based assets are mainly located throughout Duisburg, Dusseldorf, Essen, Oberhausen and Dortmund.
“We have reached another milestone in our portfolio optimization,” said Karl Reinitzhuber, CEO of Adler Group. “After this transaction, we will hold a portfolio almost entirely in the Berlin metropolitan area, an attractive market with strong fundamentals and substantial embedded potential. We will continue to systematically develop this portfolio in the future.”
Stefan Brendgen, chairman of the board of directors of Adler Group, added. “The announcement of this second pivotal transaction within a few weeks sho
