Noratis AG buys 132 residential units in Frankfurt am Main and Steinfurt

Eschborn, 26 June 2019 - Noratis AG (ISIN: DE000A2E4MK4, Securities Identification Number WKN: A2E4MK, "Noratis"), a leading real estate company focussing on the development of existing apartments in Germany, has acquired a total of 132 apartments and four commercial units in Frankfurt am Main and Steinfurt, North Rhine-Westphalia. These acquisitions are a part of the dynamic growth course of Noratis AG.

In downtown Frankfurt am Main, the company has acquired a residential and commercial building with 21 apartments and four commercially used spaces. The transfer of benefits and obligations is scheduled to take place in August 2019. The building constructed in 1965 has a total lettable area of around 2,030 m². The property has currently an occupancy level of 93 %.

In Steinfurt the acquired portfolio includes 111 residential units with a lettable area of around 6,220 m². The properties are currently fully let. Due to targeted asset management measures, existing development potentials are to be leveraged. The district capital Steinfurt has around 34,000 inhabitants and is located in the catchment area of Münster. The transfer of benefits and obligations of the buildings constructed between 1952 and 1992 is scheduled to take place in September 2019.

Flaminia zu Salm-Salm, Head of Acquisitions at Noratis AG: "We have found interesting properties at the two locations, which meet our acquisition criteria and for which we can still leverage potentials. As planned, we continue to extend our real estate portfolio."

Noratis AG (www.noratis.de) is a leading real estate company focussing on the development of existing residential properties in Germany. The business model is based on the combination of a high supply of residential properties with development needs due to the ongoing ageing of the market, and an ever rising demand for affordable living space. Noratis acquires residential properties with development potential throughout Germany, mostly company-owned apartments, residential areas or housing estates from the 1950ies to the 1970ies both in cities with more than 10,000 inhabitants and in peripheral areas of conurbations. Noratis' expertise in acquiring portfolios with value potential combined with its comprehensive development competence form the basis for a high-growth, profitable corporate development. The business model combines current and stable rental income with attractive returns from ongoing sales activities. Noratis' success is based on a multi-stakeholder approach, considering the interests of all stakeholders, from investors, employees and financing partners to current and future tenants.

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