Eschborn, 11 October 2021 – Noratis AG (ISIN: DE000A2E4MK4, WKN: A2E4MK, “Noratis”), a leading real estate company focussing on the development of existing residential properties in Germany, has acquired another real estate portfolio in Lower Saxony. In Aurich, East Frisia, 95 apartments have been purchased with a lettable area of 5,650 m². The transfer of benefits and encumbrances is still planned for this year.
The district town Aurich has experienced a positive demographic development for years and cur-rently has around 42,000 inhabitants. The acquired apartment buildings are located not far from the city centre and constitute a coherent ensemble. The centre as well as kindergartens, schools, supermarkets and convenience stores are within walking distance. Thus the apartments offer an attractive living environment close to the centre and yet quiet, not only for families.
With this acquisition Noratis has already purchased the second real estate portfolio in Eastern Friesland and the ninth in Lower Saxony. As a result of the expansion in the area, synergies in property management are created for Noratis.
Leopold Stolberg, Head of Investment at Noratis AG: “For us, Aurich is a good addition to our property stock in East Frisia and the Oldenburg-Bremen region. We are convinced of its economic development and intend to further expand our strong presence in Northern Germany though fur-ther acquisitions. Moreover, we continue to search for real estate portfolios at existing and new locations throughout Germany.”