DGAP-News: Noratis AG continues to extend its property portfolio in the Leipzig area

Noratis AG continues to extend its property portfolio in the Leipzig area

Eschborn, 17 April 2020 - Noratis AG (ISIN: DE000A2E4MK4, WKN: A2E4MK, "Noratis") continues to extend its property portfolio in the current market environment, too. The leading portfolio developer of residential properties in Germany acquired two multiple family homes and one residential and commercial building Leipzig and Halle (Saale) with a total of 50 residential units and one commercial unit.

The buildings were all buit around 1900 and extensily refurbished about 20 years ago. Nonetheless they have commercial and technical development potential, for instance as far as building services and common areas are concerned. The total lettable area amouts to around 2,800 m². The vacancy rate stands at 5 percent.

The two multiple family homes in Leipzig with a total of 32 residential units are located in an attractive neighbourhood north of the inner city with good access to public transportation. The residential and commercial building in Halle (Saale) has 18 residential units and one commercial unit and is located in the southern inner city. The main station and the inner city are within walking distance.

The transaction was brokered by BNP Paribas Real Estate Leipzig.

Flaminia zu Salm-Salm, Head of Transaction Management at Noratis AG: "After having acquired 60 residential units in Leipzig last year, we now extend our portfolio in the Leipzig area to more than 110 units. We will keep an eye on both, Leipzig und Halle (Saale) concerning further acquisitions, among other things thanks to their good economic development."

 

About Noratis:

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.

Investor & Public Relations Contact:

edicto GmbH
Axel Mühlhaus / Dr. Sönke Knop
T +49 (0)69 905 505 52
E noratis@edicto.de
Eschersheimer Landstraße 42
60322 Frankfurt am Main
Germany