- Acquisition of five properties with 83 residential units
- Further extension of the real estate portfolio planned
Eschborn, 19 May 2020 – Noratis AG (ISIN: DE000A2E4MK4, WKN: A2E4MK, “Noratis“) continues its growth course in 2020 and has acquired a residential property portfolio in Rüsselsheim. As a result, the real estate portfolio in the Rhine-Main region increases to more than 700 units. Further purchases in the region and in attractive secondary locations throughout Germany are planned.
The most recent acquisition by Noratis, a leading portfolio developer of residential properties in Germany, consists of five residential buildings with a total of 83 residential units and a lettable area of around 8,300 m2. The properties were built in the years 1971–1973 und have significant development potential, for instance concerning building services.
The residential portfolio benefits from an attractive location with an excellent infrastructure as well as a very good access to public transportation. Moreover, the properties are close to many large employers. Rüsselsheim itself is an economically strong city situated in the middle of the Rhine-Main region.
The transaction was brokered by CBRE Frankfurt. Konstantin Lüttger, Head of Residential Investment Germany: “The location, substance and existing potential are the distinguishing festures of the residential portfolio. In this transaction the professional handling and the highly efficient decision-making process were decisive for Noratis.”
Flaminia zu Salm-Salm, Head of Transaction Management of Noratis AG adds: “After acquisitions in Saxony and Lower Saxony, this third acquisition of the year shows that we are right on track. And we want to continue to grow; we are, therefore, constantly looking for attractive properties with development potential, both on our Rhine-Main local market and throughout Germany.”
Noratis continues to grow: After purchase in Rüsselsheim, portfolio in Rhine-Main increases to more than 700 units