DGAP-News: Noratis AG / Key word(s): Acquisition/Real Estate
Noratis AG acquires residential property in Neu-Isenburg and Kassel
Eschborn, 08 April 2019 - Noratis AG (ISIN: DE000A2E4MK4, WKN: A2E4MK, "Noratis"), a leading real estate company focussing on the development of existing residential property, has further expanded its real estate portfolio by acquisitions. The company has acquired 71 residential units and 40 garages in Neu-Isenburg near Frankfurt and in Kassel with a living space of around 5,400 m². The asset in Neu-Isenburg complements the already extensive real estate portfolio of Noratis in the dynamically developing Rhine-Main metropolitan region.
In both locations Noratis plans to exploit the potential of the properties built in the 1960s through value-creating investment measures in the coming years.
Flaminia zu Salm-Salm, Head of Acquisition at Noratis: "Following a contracted purchasing volume of around 1,000 units in 2018, this smaller transaction is a good start to 2019 and a suitable rounding off of the properties acquired in recent years in the Rhein-Main area. The properties have development potential and at the same time already offer an attractive initial return after acquisition."
Noratis AG (www.noratis.de) is a leading real estate company focussing on the development of existing residential property in Germany. The basis of its business model is the high supply of existing residential properties with development needs as a result of ongoing ageing, which meets an equally robust demand for affordable housing. Noratis acquires apartments with development potential across Germany, mostly company-owned apartments, urban districts or housing estates from the 1950s to the 1970s in cities from 10,000 inhabitants onwards as well as in peripheral locations of conurbations. The expert knowledge of Noratis in purchasing portfolios with value potential and comprehensive development competency establish the basis for a high-growth, profitable corporate development. The business model is characterised by the combination of ongoing, stable rental income with attractive developer returns from continuous sales revenues. The success of Noratis is driven by the taking into account of the interests of all stakeholders, from investors, employees and financing partners to tenants.
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08.04.2019 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
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|EQS News ID:||796697|
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