Noratis continues to grow: After purchase in Rüsselsheim, portfolio in Rhine-Main increases to more than 700 units

- Acquisition of five properties with 83 residential units

- Further extension of the real estate portfolio planned

Eschborn, 19 May 2020 - Noratis AG (ISIN: DE000A2E4MK4, WKN: A2E4MK, "Noratis") continues its growth course in 2020 and has acquired a residential property portfolio in Rüsselsheim. As a result, the real estate portfolio in the Rhine-Main region increases to more than 700 units. Further purchases in the region and in attractive secondary locations throughout Germany are planned.

The most recent acquisition by Noratis, a leading portfolio developer of residential properties in Germany, consists of five residential buildings with a total of 83 residential units and a lettable area of around 8,300 m². The properties were built in the years 1971-1973 und have significant development potential, for instance concerning building services.

The residential portfolio benefits from an attractive location with an excellent infrastructure as well as a very good access to public transportation. Moreover, the properties are close to many large employers. Rüsselsheim itself is an economically strong city situated in the middle of the Rhine-Main region.

The transaction was brokered by CBRE Frankfurt. Konstantin Lüttger, Head of Residential Investment Germany: "The location, substance and existing potential are the distinguishing festures of the residential portfolio. In this transaction the professional handling and the highly efficient decision-making process were decisive for Noratis."

Flaminia zu Salm-Salm, Head of Transaction Management of Noratis AG adds: "After acquisitions in Saxony and Lower Saxony, this third acquisition of the year shows that we are right on track. And we want to continue to grow; we are, therefore, constantly looking for attractive properties with development potential, both on our Rhine-Main local market and throughout Germany."

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.

 

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