- 48 residential units with more than 3,400 square metres of rental space
- Expansion of the NRW portfolio
Eschborn, 2 August 2022 – Noratis AG, one of the leading portfolio developers in Germany, is successfully expanding its existing portfolio in North Rhine-Westphalia. The company has acquired 48 units with total rental space of around 3,405 square metres in Essen and Remscheid (Rhine-Ruhr metropolitan region). It was agreed not to disclose the purchase price. The transfer of rights and obligations has already taken place.
Essen is among the German cities with the strongest economic growth, and Remscheid is also characterised by strong industry. The properties are centrally located and were built between 1965 and 2001. Local shops, doctors, schools and nurseries are all available close by and can be reached on foot.
“The purchases in the Rhine-Ruhr metropolitan region not only represent an excellent addition to Noratis AG’s existing property holdings in North Rhine-Westphalia, but also show that even in these times we still find attractive investments and intend to keep making purchases,” emphasises Leopold Stolberg, Head of Investment at Noratis AG. “The Rhine-Ruhr metropolitan region is thriving, and we are convinced of the attractiveness of these locations. We therefore plan to sustainably enhance the housing quality in the acquired properties.”
In addition to modernisation, Noratis AG is also looking into the implementation of energy-saving measures in the newly acquired properties.