- Annual purchase and sale targets met
- Real estate portfolio increases by 26 percent to 2,411 units at the end of 2019
- Igor Christian Bugarski, CEO: “We are very satisfied with the business development in 2019”
Eschborn, January 16, 2020 – Noratis AG (ISIN: DE000A2E4MK4, WKN: A2E4MK, “Noratis”), a leading portfolio developer of residential properties in Germany, has continued to develop very dynamically, as scheduled, in 2019 and has significantly increased its real estate portfolio. With 955 purchased and 337 sold units, expectations were met both for purchases and sales. In total, the real estate portfolio rose to 2,411 units, representing an increase of 26 percent, whereas the growth of the recognized real property assets was even stronger. The lettable area amounted to around 163,000 m² at the end of 2019.
In fiscal 2019 Noratis made additional purchases across Germany and was able to increase the portfolio in several locations and develop new attractive locations. The company purchased, for instance, just under 190 units in Neu-Isenburg near Frankfurt and extended its portfolio in Celle to just under 320 units. Moreover, Noratis has successfully entered the real estate market in Kassel, Leipzig, Magdeburg and Neuruppin, amongst others.
In the course of the year Noratis carried out several block sales and sold, for instance, properties in Trier and Frankfurt. In addition, the company has successfully launched two privatisations in the Rhine-Main region with its projects in Erlensee and Riedstadt.
“We are very satisfied with the business development in 2019”, says Igor Christian Bugarski, CEO of Noratis AG. “Noratis is on track and is to continue to grow in 2020.”
Flaminia zu Salm-Salm, Head of Transaction Management of Noratis AG: “With the sales of the past year, we have reaped the fruits of our work. Moreover, despite rising prices we once again were able to add several attractive properties in 2019, also thanks to our excellent network in the industry.”
The annual report for fiscal 2019 is scheduled to be published on 30 April 2020.
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.