Noratis AG expands Celle portfolio by acquiring 65 residential units

Eschborn, 30 July 2019 - Noratis AG (ISIN: DE000A2E4MK4, Securities Identification Number WKN: A2E4MK, "Noratis"), a leading real estate company focussing on the development of existing residential properties in Germany, has purchased another 65 residential units in Celle. As a result, the company's overall portfolio in the city in Lower Saxony expands to 303 units. The transaction is to be closed at the beginning of the 4^th quarter 2019.

The property built in 1972 has a total residential floor area of 3,745 m² as well as 11 parking spaces. It benefits from a central location with good traffic connections in the Southern Celle district Neuenhäusen. The local population increased by just over 2.7 percent during the past five years, supporting an ongoing high demand for residential space.

Noratis intends to develop the property, which is currently let up to around 95 percent, both technically and structurally, in line with its corporate strategy during the coming quarters to leverage the existing value potentials.

Flaminia zu Salm-Salm, Head of Acquisitions at Noratis AG: "The acquisition in Celle perfectly fits into our investment profile. The property is characterised by a coherent overall package, including robust building fabric, good lettability, appreciation potential and attractive purchasing criteria. Through this acquisition, we enlarge our portfolio in the region, resulting in additional synergy effects."

The transaction was accompanied by BNP Paribas Real Estate on the seller side.

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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