- Property acquisition in Kamp-Lintfort
- 76 residential units with more than 5,000 square metres of rental space
Eschborn, 30 August 2022 – Noratis AG has successfully expanded its existing property portfolio in North Rhine-Westphalia. The company, which is one of the leading portfolio developers in Germany, has acquired 76 units with total rental space of more than 5,000 square metres in Kamp-Lintfort (Rhine-Ruhr metropolitan region). It was agreed not to disclose the purchase price. The transfer of rights and obligations has already taken place.
Kamp-Lintfort is a business location characterised by very good transport connections and can be seen as a gateway between the up-and-coming Ruhr region and the rural Lower Rhine region. In addition, Kamp-Lintfort is a new university town. The properties are located in a quiet residential area and are attractive both for students and for young families, with apartment sizes ranging from 35 to 76 square metres.
“This acquisition shows that there are still attractive investments even in the current economic situation. After previously acquiring around 50 residential units in Essen and Remscheid, this is the second purchase made by Noratis in North Rhine-Westphalia this year. Noratis is still on a shopping spree and is taking advantage of the investment opportunities arising on the market,” explains Leopold Stolberg, Head of Investment at Noratis AG. “The previous owner maintained the property conscientiously and handed it over in good condition, and we will keep it that way,” continues Stolberg.
After acquiring properties, the Eschborn-based portfolio developer also directly looks into the possibility of implementing energy efficiency measures. “In doing so, we always bear in mind our approach of maintaining and creating affordable yet attractive housing for our tenants,” adds the Head of Investment.