Adler Group sells residential project in Germany to ABG

Adler Group has announced the sale of its Kaiserlei development project, located on the border between Offenbach and Frankfurt, to the Frankfurt housing association ABG. 

Kaiserlei

The transaction, which the two companies expect to close quickly, follows the Offenbach city council's approval of the project plans last week. 
The parties agreed that the purchase price would remain confidential. 
The Kaiserlei project is slated to have a gross floor area of approximately 122,000 m2, according to a letter of intent signed between the City of Offenbach and ABG. 
The proposed building permit outlines ambitious plans for the site, including over 1,100 rental apartments, with roughly 23% designated as subsidised housing. Additionally, the development will feature a dormitory capable of accommodating over 350 students, approximately 4,200 m2 of office space, a daycare centre, a parking garage, ample bicycle parking, and a supermarket.
ABG will begin demolition of the existing structures in spring 2026, with the first apartments expected to be ready for occupancy in 2029. The entire project will cost over €500 mln.
Karl Reinitzhuber, CEO of Adler Group, said: “We are pleased with the agreement reached between the city of Offenbach and the housing association ABG, which will enable the project to be implemented quickly and ensure the sustainable and urban development of the site. 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.”
ABG managing director Frank Junker added: “With the successful acquisition of the long-vacant property at Kaiserlei in Offenbach, we are laying the foundation for a vibrant residential quarter with social and commercial infrastructure. We thank the Adler Group for the very fair and collegial negotiations and the Offenbach city council for their approval of the Kaiserviertel project.”