A major international real estate investor entered into a binding sale and purchase agreement to acquire 5,064 residential and commercial units in Germany from ADLER Real Estate AG (XTRA:ADL) for approximately €240 million on September 18, 2020. The 5,064 residential and commercial units in Germany generate net rental income of €18.6 million per annum. The transaction is expected to close by the end of 2020. Net proceeds of €237 million, after debt repayment, taxes and fees, will be used to further strengthen the balance sheet, in line with ADLER's ongoing deleveraging commitments.