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Adler Group to sell real estate units for over $1 billion – Reuters

BERLIN, Oct 26 (Reuters) – German real estate investor Adler Group said on Tuesday it had signed a term sheet for the sale of real estate units worth 1 billion euros ($1.16 billion) to a leading alternative investment firm. Adler said the term sheet sets out the key points of the sale of 14,368 residential and commercial real estate units, which are mainly located in eastern Germany.

The closing of the transaction should take place in the first quarter of 2022, Adler said.

$1 = 0.8593 euros Reporting by Zuzanna Szymanska Editing by Riham Alkousaa

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