Adler Real Estate AG – Acquisition of Wohnungsbaugesellschaft Jade mbH
TAURECON conducted an extensive due diligence process on behalf of Adler Real Estate AG prior to their purchase of Wohnungsbaugesellschaft Jade mbH. TAURECON also oversaw the purchase negotiations and took over as interim management for the duration of the transaction process.
TAURECON carried out the due diligence in 2014, over a period of eight months. In addition to a financial and technical audit, the company also conducted legal and taxation due diligence.
Wohnungsbaugesellschaft Jade mbH, with a portfolio of around 6,700 apartments and almost 400,000 sqm of lettable space, was acquired by Adler Real Estate AG in 2015. Jade mbH’s two subsidiaries, Jade Immobilien Management GmbH (JIM) and Arkadio Facility Management GmbH, have around 40 and 50 employees respectively.
Apart from residential units, the portfolio also includes 31 commercial units. The properties are spread over 250 buildings in the town of Wilhelmshaven, near the local recreational areas on the North Sea. The properties are in an overall good condition and promise long-term added value in conjunction with falling vacancy rates and rising rents.