Adler Group divests residential project in Hamburg

Luxembourg-based real estate company Adler Group has sold its Holsten Quartier development project in Hamburg for an undisclosed sum.

Holsten Brewery, Hamburg

The buyer is a consortium of Quantum, HanseMerkur Grundvermögen, and Saga. 
The former Holsten Brewery, located in the Altona district and spanning 87,000 m2, is expected to finalize its sale in the first quarter of 2026. 
The buyers plan to expedite building permits and develop the project promptly.
The buyers vision is to transform the nearly nine-hectare area into a vibrant new urban district, featuring approximately 2,000 apartments for around 5,000 residents.
Roughly half of these homes will be subsidized, catering to students and trainees, while the other half will be privately financed. Construction is slated to begin in the coming years, with completion anticipated from 2030 onwards, representing an investment of about €1 bn. The development will incorporate existing historical buildings and is being coordinated closely with the City of Hamburg.
For the Adler Group, this sale marks a strategic shift, allowing them to concentrate on their rental housing portfolio in Berlin. 
Karl Reinitzhuber, CEO of Adler Group, said: “We are pleased with the sale of the Holsten Quartier, which, with its exceptional size and location in Hamburg, is one of the most prominent projects in our portfolio. With this transaction, we take another decisive step towards focusing our activities on the management and value creation of our rental apartments in the attractive Berlin market.”