Eschborn, August 27, 2019 – Noratis AG (ISIN: DE000A2E4MK4, WKN: A2E4MK, „Noratis“), a leading real estate company focusing on the development of existing residential property in Germany, today announced that it has adapted its structure to facilitate further growth. In order to be able to act even more efficiently in both purchasing and sales transactions, the two units will be combined and their staff expanded.
The newly created Transaction Management unit will be managed by Flaminia zu Salm-Salm, who previously headed the Purchasing department and in her new role is now also responsible for the sale of properties. She will be supported by an experienced transaction team and two proven real estate experts. Leopold zu Stolberg, the new Head of Investment, will focus on acquisitions, while Ioannis Stamatis will focus on the sales activities. Stamatis recently joined Noratis and can look back on many years of experience in management positions at SEB AG and most recently at The Flag.
Igor Christian Bugarski, CEO of Noratis, commented: “Consolidating our transaction activities enables us to operate even more efficiently and successfully in the market. Flaminia zu Salm-Salm will be a great asset in her new role given her real estate expertise, professional network and last but not least her many years of experience in the company. She will be able rely on a strong and experienced team. This realignment puts us in an ideal position to support the future growth of our company.”
Flaminia zu Salm-Salm, Head of Transaction Management at Noratis, said: “I look forward to the new challenge and am proud to be able to continue driving the growth of Noratis in this new role. The new structure enables us to leverage considerable synergies and at the same time boost the efficiency of our value chain. That’s good news for Noratis and for our partners.”
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.