DGAP-News: Noratis AG
/ Key word(s): Real Estate/Disposal
Noratis AG starts successfully in 2022
Portfolio in Münster sold with 239 residential units
Eschborn, 27 January 2022. Noratis AG has had a succesful start to the 2022 financial year. The company, which is among the leading portfolio developers of residential properties in Germany, has sold its real estate portfolio in Münster (Westphalia), in the northern city district of Coerde, with 239 residential units and a total rental space of around 19,000 square meters. The transfer of benefits and burdens will probably still take place during the first half-year 2022. The buyer, an institutional investor from the Rhine-Main region, is a longstanding business partner of Noratis AG. The investor plans to hold the properties in its portfolio on a long-term basis. The parties have agreed not to disclose the purchase price.
Noratis AG is stepping up its growth course and is therefore increasingly focusing on the expansion of its real estate portfolio as well as on portfolio management. However, the sale of successfully developed properties continues to be part of its business strategy. "With the size of our portfolio, which we have now achieved, we can act flexibly on the market - either we benefit from the attractive rental yields of the real estate portfolios developed by us or we realise the added value from the portfolio development by selling them", André Speth, the CFO of Noratis AG, explains.
The sale of the portfolio is an important milestone for the company with a view to the goals set internally for the 2022 financial year.
Noratis AG (www.noratis.de) (ISIN: DE000A2E4MK4, WKN: A2E4MK, "Noratis") 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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27.01.2022 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
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