- Purchase of more than 200 residential units with total rental space of around 12,600 square metres
- Expansion of property holdings in Rhine-Main metropolitan region
Eschborn, 30 March 2022 – Noratis AG, one of Germany’s leading portfolio developers, is successfully expanding its property holdings. The company has acquired 203 units with total rental space of around 12,600 square metres in Lower Franconia, Bavaria. It was agreed not to disclose the purchase price. The transfer of rights and obligations is due to take place in the first half of 2022.
The acquired properties are located in Elsenfeld, Obernburg and Trennfurt (all in the Miltenberg district) in the Rhine-Main metropolitan region and in Ochsenfurt (Würzburg district). Their proximity to a major conurbation makes these properties very attractive for commuters. Due to their varying apartment sizes, the residential units are also interesting for families and for singles. Local shops, doctors, schools and nurseries can all be found close by. The properties were built between 1951 and 1989.
“In line with our strategy, we will also continue to expand our property holdings in the future. We are therefore planning further purchases throughout Germany over the course of the year,” explains Leopold Stolberg, Head of Investment at Noratis AG. “The purchase in Lower Franconia represents an excellent addition to Noratis AG’s existing property holdings in Bavaria. We are convinced by the economic development of the region and the attractiveness of the locations, and plan to sustainably enhance the housing quality in the acquired properties.”
