ADO Properties has acquired residential and commercial portfolio in Berlin. The purchase price is €262.5m. The portfolio consists of 1,467 residential and 127 commercial units. The closing of the transaction is expected in Q4 2017. The acquired portfolios have residential in-place rents between €4.2sqm/month to €7.9 sqm/month and a vacancy rate of 3.2 percent. Together with the acquired assets ADO expects to take over €99.2m of loans with an average maturity of 8.4 years and an average interest rate of 1.9 percent. The remainder of the purchase price will be funded by existing liquidity.
