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ADO Properties declares dividend, details property transactions of over €250M

Multifamily-focused operating and management company ADO Properties SA proposed a dividend of 60 euro cents per share.

The company, headquartered in Luxembourg, also disclosed property transactions of over €250 million subsequent to the year ended Dec. 31, 2017, and secured a two-year €175.0 million revolving credit facility with two one-year extension options.

The company acquired a residential building complex in Berlin by acquiring 94% shares of the Dutch owner for €160.4 million. The complex, comprising 832 residential and 24 commercial units, offers 66,000 square meters of leasable space. The total annual net cold rent from the transaction was €5.6 million.

In addition, 22 assets with 581 residential and 26 commercial units were acquired in 12 different deals in Berlin for a total of €91.9 million.

ADO said it is also finalizing a commercial paper program of up to €500 million, which will enable the company to raise funds on short notice for a maximum term of 364 days.