Adler Weighs Sale of Prized €3.5 Billion Berlin Rental Portfolio

Adler Group SA is weighing the sale of its prized portfolio of Berlin apartments, a deal that would mark a landmark step in the slow unraveling of the scandal-hit German landlord.

The company has heard pitches from investment banks seeking to win a role advising on the sale of the €3.5 billion ($4.1 billion) property portfolio, people with knowledge of the process said. The role includes advising on how to best structure the portfolio in order to maximize proceeds, the people said, asking not to be identified as the information is private.

The preparatory works are expected to take several ...