Publication according to Article 17 of German MAR
Eschborn, 25 July 2018, 15:26 CET/CEST – Noratis AG (ISIN: DE000A2E4MK4, WKN: A2E4MK, “Noratis”) significantly extends its portfolio as developer of existing residential properties. Today the notarial purchase and sale agreement for the acquisition of a residential quarter with 356 apartments, 7 commercial units and 260 parking spaces was signed. The quarter is located in downtown Frankfurt am Main and was built in 1987. The total rental area amounts to around 24,200 square metres; the vacancy rate lies below 5%.
Noratis has been able to acquire the building at an attractive purchase price in the medium two-digit million-euro range. The closing of the transaction is expected for late September 2018. Together with the current transaction, Noratis has acquired and / or notarially secured almost 900 residential units since May 2018 and hence increased its real estate portfolio to almost 2,000 residential units, whose incremental value potentials are to be leveraged through the further development of the properties.
Noratis AG (www.noratis.de) is a leading portfolio developer of residential properties in Germany. The company creates and preserves attractive and at the same time affordable living space for tenants, owner-occupiers and investors. Noratis acquires ageing residential portfolios throughout Germany, mostly company-owned apartments, residential areas or housing estates in cities with more than 10,000 inhabitants and in peripheral areas of conurbations. Noratis upgrades these residential properties sustainably, reduces the vacancy rate and creates a positive living climate for all residents. After a successful development, the properties are sold in the medium term as a portfolio to investors and/or individually to existing tenants, capital investors and owner-occupiers. A guarantee for the companies’ success and a profitable corporate development is the aspiration to create a shared value across all development steps for all stakeholders: from investors, employees and financing partners to current and future tenants. Noratis AG has been listed on the Frankfurt Stock Exchange since June 2017.