Luxembourg-based property company Adler Group plans to sell a major part of its residential portfolio in a bid to reduce debts, Chief Executive Maximilian Rienecker told Reuters on Monday.
The sale could include tens of thousands of its approximately 70,000 flats, he said. The complete sale of its Westgrund subsidiary was also an option.
The company, which operates on the German real estate market, wants to use the proceeds to buy back bonds and shares, said Rienecker, who runs the Adler Group together with Co-CEO Thierry Beaudemoulin.
Source: Reuters.com