Eschborn, 10 August 2020 – Noratis AG (ISIN: DE000A2E4MK4, WKN: A2E4MK, “Noratis”) is further expanding its property portfolio in the Rhine-Main region. The company acquired two apartment buildings with a total of 36 residential units and a total rental space of 1,800 sqm in Bensheim in South Hesse.
Situated south of Darmstadt, Bensheim is an attractive business location boasting stable population trends. The properties acquired by Noratis are located north of the city center and benefit from a good infrastructure including attractive public transport links. Both buildings were erected in 1992 and are in good condition. Noratis, a leading portfolio developer of residential property in Germany, plans to gradually leverage the properties’ commercial and technical development potential over the coming years, for example by investing in building services and upgrading common areas.
Flaminia zu Salm-Salm, Head of Transaction Management at Noratis AG, said: “Since the start of the year, we have acquired over 700 apartments, covering an area from Emden in the north to the Upper Palatinate in the south of Germany. Our plans are to make further acquisitions in the coming months, both in our Rhine-Main home market and in the rest of Germany. Especially at locations where we already have a presence, we acquire smaller property projects as well.”
Noratis AG (www.noratis.de) 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.