LEG Immobilien to acquire 13 holding companies from Adler for $1.5bn.

LEG Immobilien, a real estate company, agreed to acquire a majority stake in residential and commercial assets of Adler Group, a real estate investment company, for $1.72bn. The closing of the transaction is subject to due diligence conducted by LEG, the conclusion of final agreements and the fulfillment of customary market conditions, in particular regulatory approvals, and is expected to take place by the end of 2021. On December 1, LEG Immobilien agreed to acquire 13 holding companies, which own 15,362 apartments and 185 commercial properties, from Adler for $1.5bn. “The price has changed. We had a deep look into the portfolio and found one or two things,” Lars Von Lackum LEG CEO.