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ADLER Real Estate AG successfully completes the sale of a real estate property in Homburg (Saar)
Publicity pursuant to § 15 WpHG (German Securities Trading Act)
- Sale of a 7.4 acres property upon obtaining a building permit
- Project development planned in the center of Homburg
ADLER Real Estate AG, Frankfurt, successfully sold a property at the fairground in Homburg with a size of approximately 7.4 acres to the group of companies Distributa, which already started to build a home and garden center. Previously, ADLER obtained a building permit. From the originally by ADLER assumed area with a size of 9.9 acres, ADLER still owns the remaining property with the size of approximately 2.5 acres, for which the development of a food discount store is planned. Currently, the company reviews additional inner city project developments in Homburg (Saar). "We keep on adhering to our project development plans for Homburg and define our plans in close alignment with the municipal authorities," says the ADLER board member Axel Harloff.
After the change of the majority shareholder in September 2005, ADLER Real Estate AG started a firm consolidation course and their reorientation. ADLER already has several developable properties and real estate projects in design. In addition to the ongoing re-structuring of the existing project portfolio, ADLER's objective is to develop real estate projects as well as real estate products, suitable for investment funds. The new majority shareholder, the U.S. real estate investor John D. Heikenfeld, purchased via Mezzanine IX Investors, L.P. located in Dallas, Texas, the majority interest of 88.8% on ADLER Real Estate AG. Thus, ADLER was completely separated from the insolvent AGIV Real Estate AG.
Hamburg, February 2, 2006
For further information please contact:
german communications dbk ag
Jörg Bretschneider
Alsterufer 34, 20354 Hamburg
Tel.: +49 (0)40/46 88 33 0, Fax: +49 (0)40/47 81 80
presse@german-communications.com
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share price
0,601 € (3.02.2012)
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