EQS-News: Successful year for Adler Group: Strategic realignment with focus on Berlin and structures adjusted in 2025. Long-term review of all future options without any time pressure

Successful year for Adler Group

Strategic realignment with focus on Berlin and structures adjusted in 2025

Long-term review of all future options without any time pressure

Berlin/Luxembourg, 9 February 2026 – In 2025, Adler Group continued its strategic realignment while strengthening its operational performance. The annual accounts are currently being prepared and are expected to receive an unqualified audit opinion. Following the audit of the annual accounts for 2022 and 2023 in September 2024, and the timely publication of the 2024 annual accounts in April 2025, this development underlines the Company’s return to a stable and normalised business.

In 2025, the Company made substantial progress in executing its strategic priorities. Adler concentrated on the Berlin rental market and disposed of non-strategic yielding assets outside of its core market. In addition, Adler reduced its development pipeline and progressed the completion of its forward sale projects. The organisational structure was adjusted to reflect the requirements of a smaller, regionally more focused portfolio, while the Company continued to actively optimise its financing structure. Reaching these milestones provides Adler with a solid platform to shape its future and assess strategic options.

The KPIs of the Berlin portfolio of around 18,000 units remain robust, reflected in a very low vacancy rate of only 1.3% and like-for-like rental growth of around 3.5%. With an average rent per square meter of around €8.60, Adler continues to offer affordable housing in the German capital.

During the year, the Company successfully divested its non-strategic residential portfolio, primarily located in North Rhine-Westphalia, as well as the majority of its development projects. A total of eight project disposals were signed following structured and competitive sales processes. In each case, Adler achieved purchase prices in the double-digit million range. All buyers pursue long-term development strategies leading to construction activities in due course.

The disposed project portfolio includes Stolkgasse and Cologneo III in Cologne, Eurohaus in Frankfurt, Upper Nord Tower and Benrather Gärten in Düsseldorf, The Wilhelm in Berlin, Holsten Quartier in Hamburg, and Kaiserlei in Offenbach. Five of these have already been closed. The other three projects are expected to close during 2026. Sales efforts for the remaining projects will continue with high priority throughout the year. In addition, various non-strategic yielding assets, including the Kornversuchs-speicher and a property in Hedemannstraße in Berlin, were sold.

Operational progress was not limited to disposals. Adler secured Deloitte as anchor tenant for project Ostforum in Leipzig, with an area of 8,000 square meters. This represents the largest office lease in Leipzig in 2025. Food discounter Aldi, another anchor tenant, was the first retailer to open in the building. These developments materially support the planned sales process for the property, which is scheduled to commence in 2026 with JLL appointed as sales advisor.

Furthermore, the Company continued construction activities at Grand Ouest in Frankfurt and Quartier Hoym in Dresden. Quartier Hoym is expected to be completed by mid-2026.Grand Ouest is scheduled for completion by the end of 2026, followed by handover to the buyers.

These achievements reflect Adler’s disciplined approach to disposal processes, its transparent engagement with investors and buyers, and its consistent market presence.

Adler has also materially improved its financing costs structure and maturity profile. The successful refinancing of the 1L and 1.5L will reduce interest expenses by approximately €134 million over the remaining term. In addition, a €300 million Adler RE bond maturing in 2026 was refinanced. With no bond maturities until 2028, Adler has good flexibility to determine its next strategic steps.

The Board of Directors is being advised by Evercore, a leading international investment bank and strategy advisor, to evaluate strategic options for the Berlin residential portfolio and the related financing structures. This open-ended review represents a key strategic focus for the Company in 2026.

Contact
Investor Relations:
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