Consus Real Estate AG announced that it will redeem all of its EUR 450 million 9.625% senior secured notes due 2024 at the redemption price of 104.813%. The redemption date for the Notes will be on May 15, 2021. The Notes will be repaid with the proceeds from the recent bond issuance of Adler Group. This refinancing will enable Adler Group to reduce its weighted average cost of debt to 2.2% and realise further EUR 33 million of annualised financial synergies. The redemption of the Notes, together with the squeeze out of minority shareholders of WESTGRUND Aktiengesellschaft which is expected to be completed in the second half of 2021, mark an important milestone on the way to further simplify and harmonise the group structure.