ADO Properties

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ADO Properties SA

logo
legal form Société anonyme
ISIN LU1250154413
founding 2006
Seat Luxembourg
management Thierry Beaudemoulin CEO
Number of employees 354
sales 134.6 million euros
Branch property
Website www.ado.properties
As of December 31, 2018

ADO Properties is a Luxembourg- based real estate company that operates exclusively in Berlin and owns around 18,000 residential and commercial units.

The initial listing on the Frankfurt Stock Exchange took place on July 23, 2015 at an issue price of 20 euros. On October 13th, ADO Properties was admitted to the SDAX . Around 61.76% of the shares are in free float ; the remaining 38.24% are owned by the Israeli ADO Group, which is listed on the Tel Aviv Stock Exchange .

At the end of 2019, ADO Properties made a takeover offer for Adler Real Estate , which the majority of shareholders accepted.

On May 8, 2020, ADO Properties SA registered its plan to acquire shares and control over Consus Real Estate AG, Berlin, with the Federal Cartel Office for examination.

criticism

Like other housing companies, the ADO was also criticized. She is helping to aggravate the situation on the Berlin housing market by buying up numerous apartments and, as the company itself said, sees a potential increase of 17 to 38% in new rentals. In some cases, the company did not pay any real estate transfer tax on these purchases because they were designed in the form of so-called “ share deals ”. The ADO was also criticized several times with regard to existing tenancies because it had failed to fulfill its obligation to ensure that the heating system worked when the outside temperature was low for periods of up to two weeks.

Individual evidence

  1. ↑ Administration. Retrieved December 23, 2019 .
  2. ↑ a b ADO Properties Annual Report 2018 , accessed April 8, 2019
  3. ↑ ADO Properties SA: Completion of the sale of a real estate portfolio , at https://www.ado.properties , accessed on November 29, 2019
  4. ↑ a b basic information , at https://ado.properties , accessed on July 3, 2018
  5. ↑ ADO Properties SA: Deutsche Börse includes ADO Properties in the SDAX , at https://ado.properties , accessed on July 3, 2018
  6. ^ Michael Fabricius: Ado Properties: Takeover coup with Adler Real Estate . In: THE WORLD . December 15, 2019 ( welt.de [accessed May 27, 2020]).
  7. ^ Bundeskartellamt: Ongoing merger control proceedings: ADO Properties SA, Luxembourg; Acquisition of shares and control over Consus Real Estate AG, Berlin. In: Finanznachrichten.de. May 8, 2020, accessed May 15, 2020 .
  8. ↑ Ulrich Paul: Homeownership: Prices are rising in Berlin, the pressure on tenants is growing . In: Berliner Zeitung . ( berliner-zeitung.de [accessed on March 10, 2017]).
  9. ↑ Almost 2,000 apartments change hands with the new share deal . In: Tagesspiegel . ( tagesspiegel.de [accessed on March 10, 2017]).
  10. ↑ Julia Backes: Tenants shiver because the property management company doesn't heat . In: BZ ( bz-berlin.de [accessed on March 10, 2017]).
  11. ^ Cornelia Schmalenbach: Heating broken for five days: The Karow frost houses . In: Berliner Kurier . ( berliner-kurier.de [accessed on March 10, 2017]).