ADLER Real Estate : to issue senior unsecured notes for the purpose of financing the repurchase of existing secured Schuldschein loans and further debt refinancing

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pursuant to Art. 17 of the EU Market Abuse Regulation (MAR)

ADLER Real Estate to issue senior unsecured notes for the purpose of financing the repurchase of existing secured Schuldschein loans and further debt refinancing

Berlin, 29 November 2017 - The Management Board of ADLER Real Estate Aktiengesellschaft (ISIN DE0005008007) today resolved subject to the consent of the supervisory board to issue senior unsecured notes under New York law in two tranches with an indicative volume of at least EUR 300 million per tranche. The notes will be offered in a one-day bookbuilding by way of private placements to qualified investors outside the United States of America pursuant to Regulation S. There will be no public offer of the notes. ADLER intends to make an application for the notes to be listed on the regulated market of the Irish Stock Exchange.

The notes are expected to be issued in two tranches with maturities of 4 and 6 years. The interest coupon will be determined in the bookbuilding.

The net proceeds from the notes issuance will be used primarily for the purpose of financing the repurchase of existing secured Schuldschein loans with a volume of up to approx. EUR 700 million (including makewhole amount, bank fees and other costs) as well as for further debt refinancing with a view to improving ADLER's key financial ratios such as cost of debt and FFO.

Goldman Sachs International is acting as Sole Global Coordinator, and Deutsche Bank AG, London Branch, Goldman Sachs International, J.P. Morgan Securities plc and Morgan Stanley & Co. International plc are acting as Joint Bookrunners for the accelerated bookbuilding. Deutsche Bank has also been mandated to act for ADLER in respect of the repurchase of the Schuldschein loans.

Disclaimer

This publication constitutes neither an offer to sell nor an invitation of an offer to purchase or subscribe for any securities. No public offer of securities of ADLER Real Estate Aktiengesellschaft is being made or intended.

The distribution of this publication may be subject to legal restrictions in certain jurisdictions. Persons who come into possession of this publication are requested to inform themselves about any of such restrictions and comply with them. Non-compliance with such restrictions may constitute an infringement of the securities laws of the respective jurisdiction.

This publication is not for distribution, directly or indirectly, in or into the United States of America, Canada, Australia or Japan, or any other jurisdiction into which such distribution would not be permitted by applicable law.

This publication is not an offer of securities nor a solicitation of an offer to purchase securities in the United States of America. The securities mentioned herein are not and will not be registered under the U.S. Securities Act of 1933 as amended (the "Securities Act") and may not be offered or sold in the United States absent registration or an exemption from registration under the Securities Act.

For enquiries, please contact:

Dr Rolf-Dieter Grass
Head of Corporate Communication
ADLER Real Estate AG
Telephone: +49 (30) 2000 914 29
r.grass@adler-ag.com