Luxusimmobilie in Berlin: Verkauf von Hotel Adlon vorerst gescheitert

The luxury Adlon hotel located at Pariser Platz in Berlin cannot be sold at the moment. The necessary majority for selling the property was not achieved among the shareholders, Jagdfeld's real estate company reported. While 86 percent of the Adlon Fund's shareholders voted in favor of the sale, they hold only 71.04 percent. A capital majority of 75 percent was needed.

Jagdfeld intends to continue pursuing the sale. The luxury hotel is part of a fund, Fundus-Fonds 31, managed by Jagdfeld. The fund and hence the Adlon belong to the company according to which there are around 4,000 shareholders who have invested in the fund. Most of these shareholders are private investors. Since these are now in an age when they want to separate from their shares, Jagdfeld announced a few weeks ago that they wanted to sell the property.

Jagdfeld evaluated the voting result as "an overwhelming mandate to go ahead with the sale." "Now is the right time for the company to sell. Only then will the often 80-year-old first-time investors who are alone and helpless without alternatives receive what is theirs," the company said in its announcement. Larger shareholders had expressed criticism beforehand, especially about the tiered success participation for Jagdfeld.

The company is to receive 20 percent of the excess earnings, should the purchase price exceed 310 million euros. 280 million euros was the minimum sales price that Jagdfeld estimated. What happens next and when a sale will be completed remains open. The magnificent hotel in East Berlin, founded nearly 120 years ago by Lorenz Adlon, was destroyed by fire in 1945, except for a side wing, and was completely razed in 1984.

It was rebuilt according to original plans in the 1990s and reopened on August 23, 1997. It is operated today by the luxury hotel group Kempinski. The lease agreement remains unaffected until the end of 2032. What happens afterwards is still open.