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.”