Noratis and GETEC set up joint efficiency company

Eschborn / Magdeburg, 17 June 2020 - Noratis AG (ISIN: DE000A2E4MK4, WKN: A2E4MK, "Noratis") a leading portfolio developer of residential properties in Germany and the leading energy service provider GETEC have set up a joint energy efficiency company. The objective of the new company G+N Energieeffizienz GmbH is the systematic improvement of the energy efficiency as well as the reduction of CO2 emissions of all buildings in the portfolio of Noratis.

Noratis creates and preserves attractive and at the same time affordable housing in medium and small-sized towns and at the periphery of conurbations. The company currently owns nearly 3,000 residential units at 23 locations all over Germany. The newly set up G+N Energieeffizienz GmbH is to successively take over the heat supply of all properties, manage existing installations and, if necessary, replace them with modern ones at its own expense. The objective is to upgrade the properties through energetic optimisation so that the costs for tenants may even decrease in the ideal case.

"We are very pleased that with Noratis we have found yet another strong partner for the energetic optimisation of a highly attractive residential portfolio. These days it is particularly important to create both attractive and affordable living space. We are united by the goal of implementing climate change and sector coupling on a large scale within the portfolio of Noratis. With this cooperation GETEC is consistently pursuing its strategy of successful efficiency partnerships", says Michael Lowak, Segment CEO Real Estate Sector of the GETEC Group.

"This joint venture is yet another step towards the sustainable upgrading of our properties. Through the partnership with GETEC we benefit from the experience of an established player. We create and preserve living space, which is both attractive and affordable, for potential new owners as well as for our tenants. The latter benefit from the new company through an improved heat supply in the properties, especially if the existing installations are replaced by modern and energy-efficient ones", adds Igor Christian Bugarski, CEO of Noratis AG.

About Noratis

Noratis AG () is a leading portfolio developer of residential properties in Germany. The company identifies and realizes potentials for tenants, owner-occupiers & investors, thereby creating and preserving attractive and at the same time affordable living space throughout Germany. Noratis specializes in the upgrading of ageing residential portfolios, mostly company-owned apartments, residential areas or housing estates in cities with more than 10,000 inhabitants and in peripheral areas of conurbations. After a successful development, the properties remain in the company's portfolio or are sold in the medium term to investors and/or individually to existing tenants, capital investors and owner-occupiers. In this way, Noratis creates a noticeable and sustainable added value for all stakeholders: from investors, employees and financing partners to current and future tenants. Noratis AG is listed on the Frankfurt Stock Exchange.

GETEC Group

GETEC is a leading partner for the industry and the real estate sector when it comes to smart, efficient and green energy solutions - both in Germany and further afield. Our promise, "We have the energy for more", is the guiding principle for around 1,500 employees. With their excellent engineering skills, regulatory competence, proven swiftness of action and comprehensive sustainability expertise, they guide our customers through an increasingly complex energy world while at the same time consistently helping them to improve their carbon footprint. GETEC is represented at 45 locations in Germany and Europe and generated an overall income of 700 million euros in 2019.

To find out more about the GETEC Group, go to:

 

Investor & Public-Relations Contact Noratis:

edicto GmbH
Axel Mühlhaus / Dr. Sönke Knop
T +49 (0)69 905 505 52
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Eschersheimer Landstraße 42
60322 Frankfurt am Main

 

Media Contact GETEC:

Christian Faßelt
Leiter Marketing und Kommunikation
T +49 (0)391 256 8392
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