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DGAP-News: Noratis AG / Key word(s): Acquisition/Real Estate
Noratis acquires 95 apartments in Aurich
Eschborn, 11 October 2021 - Noratis AG (ISIN: DE000A2E4MK4, WKN: A2E4MK, "Noratis"), a leading portfolio developer of residential properties in Germany, has acquired another real estate portfolio in Lower Saxony. In Aurich, East Frisia, 95 apartments have been purchased with a lettable area of 5,650 m². The transfer of benefits and encumbrances is still planned for this year.
The district town Aurich has experienced a positive demographic development for years and currently has around 42,000 inhabitants. The acquired apartment buildings are located not far from the city centre and constitute a coherent ensemble. The centre as well as kindergartens, schools, supermarkets and convenience stores are within walking distance. Thus the apartments offer an attractive living environment close to the centre and yet quiet, not only for families.
With this acquisition Noratis has already purchased the second real estate portfolio in Eastern Friesland and the ninth in Lower Saxony. As a result of the expansion in the area, synergies in property management are created for Noratis.
Leopold Stolberg, Head of Investment at Noratis AG: "For us, Aurich is a good addition to our property stock in East Frisia and the Oldenburg-Bremen region. We are convinced of its economic development and intend to further expand our strong presence in Northern Germany though further acquisitions. Moreover, we continue to search for real estate portfolios at existing and new locations throughout Germany."
Noratis AG (www.noratis.de) is a leading portfolio developer of residential properties in Germany. The company identifies and realizes potentials for tenants, owner-occupiers & investors, thereby creating and preserving attractive and at the same time affordable living space throughout Germany. Noratis specializes in the upgrading of ageing residential portfolios, mostly company-owned apartments, residential areas or housing estates in cities with more than 10,000 inhabitants and in peripheral areas of conurbations. After a successful development, the properties remain in the company's portfolio or are sold in the medium term to investors and/or individually to existing tenants, capital investors and owner-occupiers. In this way, Noratis creates a noticeable and sustainable added value for all stakeholders: from investors, employees and financing partners to current and future tenants. Noratis AG is listed on the Frankfurt Stock Exchange.
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11.10.2021 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
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