Eschborn, December 5, 2019 – Noratis AG (ISIN: DE000A2E4MK4, WKN: A2E4MK, “Noratis”), a leading real estate company focussing on the development of existing residential properties in Germany, continues to expand its portfolio. In Neuruppin (Brandenburg) 165 apartments have been acquired. In total, Noratis has extended its portfolio by more than 400 residential units during the past weeks alone.
The apartments which have now been acquired are spread across a total of 29 apartment buildings with a total rental area of about 13,200 m². The existing technical development potential has already been partly leveraged during recent years, so that the apartments are in a good condition. The vacancy rate is less than 1 percent. The transaction will probably still be closed in 2019.
Neuruppin itself is an attractive location in the Berlin-Brandenburg metropolitan region. The location of the acquired properties within the district town is excellent due to their proximity to Lake Ruppin, which is only about 4 kilometres away from the city centre. Several supermarkets and restaurants are close to the properties. The headquarters of the Medical University Brandenburg in Neuruppin are about 10 minutes away by car.
Flaminia zu Salm-Salm, Head of Transaction Management of Noratis AG: “With Neuruppin we have been able to add yet another attractive location to our portfolio. This means that our real estate holdings are constantly growing – a development which is to continue in future, too.”
Noratis AG (www.noratis.de) is a leading portfolio developer of residential properties in Germany. The company creates and preserves attractive and at the same time affordable living space for tenants, owner-occupiers and investors. Noratis acquires ageing residential portfolios throughout Germany, mostly company-owned apartments, residential areas or housing estates in cities with more than 10,000 inhabitants and in peripheral areas of conurbations. Noratis upgrades these residential properties sustainably, reduces the vacancy rate and creates a positive living climate for all residents. After a successful development, the properties are sold in the medium term as a portfolio to investors and/or individually to existing tenants, capital investors and owner-occupiers. A guarantee for the companies’ success and a profitable corporate development is the aspiration to create a shared value across all development steps for all stakeholders: from investors, employees and financing partners to current and future tenants. Noratis AG has been listed on the Frankfurt Stock Exchange since June 2017.