- Purchase of 124 units in metropolitan region Hannover-Braunschweig-Göttingen-Wolfsburg
Eschborn, 26 June 2020 – Noratis AG (ISIN: DE000A2E4MK4, WKN: A2E4MK, “Noratis”) continues the dynamic extension of its portfolio. The company, a leading portfolio developer of residential properties in Germany, acquires 124 units in the metropolitan region Hannover-Braunschweig-Göttingen-Wolfsburg.
The purchased package includes a total residential rental space of around 9,400 m². Noratis plans to upgrade the properties in technical and commercial terms during the coming years and hence to continue to improve the residential quality for existing and new tenants. The parties have agreed not to disclose any further details about the transaction.
Flaminia zu Salm-Salm, Head of Transaction Management at Noratis AG: “With this acquisition we enlarge our portfolio between Hannover and Wolfsburg to more than 500 units. This is one of the reasons why the package fits perfectly into our portfolio. During the second half of 2020 we intend to continue to grow – here in the region and all over Germany in cities with more than 10,000 inhabitants and in peripheral areas of conurbations.”
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.