German multifamily property company Adler Real Estate AG issued a positive earnings outlook for full year 2018.
The company said the positive guidance is based on its expected successful acquisition of real estate operator and manager Brack Capital Properties NV and "significantly improved" group operations. The acquisition is expected to add roughly 12,000 core residential units to Adler's portfolio, representing a roughly 24% increase.
Adler expects its 2018 funds from operations I in a range of €65 million to €70 million, an increase of about 65% year over year. The company's full-year net rental income is expected to increase by approximately 25% on a yearly basis to between €210 million and €220 million.