Adler Backer Aggregate Sells Parts of Berlin Project to Imfarr

Aggregate Holdings SA sold three units of its Quartier Heidestrasse development project in Berlin to a Vienna-based group, the latest step in the company’s effort to raise funds and pay back debt.

Aggregate sold the assets for €488 million ($486 million) to a consortium led by Imfarr, Nemat Farrokhnia’s real estate development and investment office.

Aggregate, part-owned and run by Austrian tycoon Cevdet Caner, has been seeking to repay bonds and loans and shore up its finances after allegations of systemic fraud were leveled at Adler Group SA, a German real estate firm in which it was the ...