Adler Group Sells Stake in Brack Capital Properties to LEG Immobilien
Deal News | Nov 05, 2024 | White & Case
Global law firm White & Case LLP has advised Adler Group S.A. on the sale of its substantial 62.78 percent stake in Brack Capital Properties N.V. to LEG Immobilien SE for €219.3 million. The transaction is structured as a two-stage closing process, with the first tranche of 52.68 percent of shares expected to conclude in January 2025 and the second tranche of 10.10 percent by January 2026. The sale is strategic for Adler Group, aimed at stabilizing its balance sheet and supporting a renewed business plan. Adler Group specializes in managing approximately 25,000 residential units mainly in Germany. BCP's portfolio now involves 9,101 residential units and several large-scale development projects. The advisory team from White & Case was led by several partners and associates based in Frankfurt and Hamburg.
Sectors
- Real Estate
- Legal Services
Geography
- Germany – The companies involved, Adler Group, Brack Capital Properties, and LEG Immobilien, primarily operate within Germany.
- Luxembourg – Adler Group S.A. is based in Luxembourg.
Industry
- Real Estate – The article discusses the sale of stakes in real estate companies and involves residential properties and development projects.
- Legal Services – White & Case LLP provided legal advisory services for the transaction described in the article.
Financials
- 219.3 million – The sale price for Adler Group's stake in Brack Capital Properties to LEG Immobilien.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Adler Group S.A. | Selling Company | Company | A company managing residential units, selling its stake in Brack Capital Properties to stabilize its balance sheet. |
| Brack Capital Properties N.V. | Target company | Company | A real estate company with residential units and development projects in Germany. |
| LEG Immobilien SE | Buying Company | Company | A company purchasing a stake in Brack Capital Properties from Adler Group. |
| White & Case LLP | Legal Advisor | Company | The law firm advising Adler Group on the sale. |