Eschborn, 27 October 2021 – Noratis AG (ISIN: DE000A2E4MK4, WKN: A2E4MK, “Noratis“), a leading real estate company focused on the development of existing residential properties in Germany, is further extending its real estate portfolio in Northern Germany. Altogether 148 residential units with a total floor space of around 9,500 m² have been purchased at three locations in the metropolitan region of Hamburg. The seller was Berlin-based FFIRE Investment Nord GmbH & Co. KG; the transaction was accompanied by JLL Hamburg.
Noratis intends to successively reduce the existing vacancies with the proven strategy of targeted investments which improve the residential value for the tenants and nonetheless maintain affordable living space. As a result, rental income and tenant satisfaction should continue to develop in the same positive way as at other locations of Noratis.
The portfolio properties are characterised by the typical building years of the Noratis portfolio from 1965 to 1970 and have a solid and well-maintained building fabric. They are within walking distance of the local public transportation, schools, kindergartens and convenience stores.
Noratis has already been active in Schleswig-Holstein and Northern Germany for many years and holds further residential property portfolios, for instance, in Ratzeburg, Emden, Aurich and Cuxhaven. The acquisition results in synergies in the administrative field.
Leopold Stolberg, Head of Investment of Noratis AG: “Schleswig-Holstein continues to offer profitable investment opportunities. The Hamburg catchment area is an attractive location with a positive economic momentum and above all potentials which we are able to leverage. Further acquisitions in this region are planned.“