Adler Group SA Seeks Permission from Bondholders to Sell Unfinished Apartment Development at 47% Discount

By
Hugo Jansen
1 min read
⚠️ Heads up: this article is from our "experimental era" — a beautiful mess of enthusiasm ✨, caffeine ☕, and user-submitted chaos 🤹. We kept it because it’s part of our journey 🛤️ (and hey, everyone has awkward teenage years 😅).

Embattled German landlord Adler Group SA has requested its bondholders for permission to sell an unfinished apartment development at a 47% discount to its 2022 valuation, as the company races to repay its vast debt load. The real estate firm aims to sell a project known as Cologne Apart for €44 million ($48 million), according to Bloomberg. That is 37% less than the price valuers estimated on June 30 last year and 47% lower than its valuation in June 2022.

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