Company: Adler Real Estate AG
Business: This German real estate company is focused on developing a strong and profitable real estate portfolio via acquisition and management of residential properties. They are also actively creating added value by developing existing residential
properties through improvements, structural alterations and renovations,
as well as developing residential construction sites and new
residential properties for its own account or together
with partners.
Active: Only in Germany
P/E: 75.0
This was the final real estate company for this time unless some requests turn up but I doubt it since there seem to have been a very low interest for this type of stocks. I can fully understand that especially since the P/Es are in most cases very insane. One thing that I have found very interesting is that all the real estate companies I have seen have been country based. That must be very stupid of them since usually when you have a property bubble you have that in the entire country due to interest rates, ease of credit etc. which can be completely different in another country. Just look at Europe! The real estate bubble in Spain and Ireland exploded but nothing happened in several other countries including for instance Italy. If the real estate companies would have been spread out in more countries they would have brought in protection and stability via diversification.
