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ADLER Real Estate AG Sells Property in Berlin
27/10/2011 - Corporate News
- transaction generates liquidity and profits;
- positive consolidated earnings expected in 2011;
- Management Board member Barbara Yaltrak resigns
Hamburg, 27 October 2011. ADLER Real Estate AG (ISIN DE0005008007), Frankfurt am Main, has successfully concluded a transaction for the sale of its property on the banks of the Spree River in Berlin. The sale of this property, which is around 7,000 square meters in size and is situated on Fanny-Zobel-Straße, should be executed at the end of 2011. The buyer is the Berlin-based firm of Agromex GmbH & Co. KG.
The transaction had been agreed at the end of July, even though the development plan procedure, which has been ongoing since 2008, is not yet complete. Management Board member Barbara Yaltrak played a key role in coordinating the development and execution of the transaction.
The sale will generate a cash flow in the medium single-digit millions for the company. At the same time, the sale will generate profits for the company. Based on the current situation, the Management Board expects to report positive net consolidated earnings for 2011.
Barbara Yaltrak will be leaving ADLER Real Estate AG at the end of October 2011, and will resign from the Management Board.
The Management Board
If you have any questions, please contact:
german communications dbk ag
Jörg Bretschneider
Alsterufer 34, 20354 Hamburg
Tel.: 040/46 88 33 0, Fax: 040/47 81 80
presse@german-communications.com
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| NEWS |
share price
0,87 € (18.05.2012)
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