Noratis AG expands real estate portfolio in Celle by adding 82 residential units

- Property stock in Celle increases to around 400 units, in the metropolitan region of Hannover-Braunschweig-Göttingen-Wolfsburg to more than 600 units

Eschborn, 2 June 2021 - Noratis AG (ISIN: DE000A2E4MK4, "Noratis") has acquired yet another residential portfolio in Celle (Lower Saxony). It includes 82 residential units with a total lettable area of around 5,300 m². The transaction was brokered by Jones Lang LaSalle SE within the framework of an exclusive mandate for the seller.

The apartments are located in the southern district Westercelle, within walking distance of the inner city. They are spread across two- to three-storey apartment buildings which were built in 1969 and have a solid building fabric. The properties currently have a vacancy rate of around 8 percent. Through active asset management the attractiveness of the properties is to be increased further for tenants. Accordingly, the vacancy rate is to be continuously reduced.

In Celle, Noratis has expanded its property stock to currently around 400 units altogether. Further Noratis apartments, which were acquired in 2018 and 2019, are located in the Neuenhäusen and Vorwerk districts. Celle is part of the metropolitan region Hannover-Braunschweig-Göttingen-Wolfsburg with around 3.8 million inhabitants in which the portfolio of Noratis now grows to more than 600 units. Apart from Celle, they are located in Braunschweig, Wolfenbüttel and Königslutter.

Leopold zu Stolberg, Head of Investment at Noratis AG: "Celle is an attractive location - not least because of the proximity to Hannover. This is why we have expanded our portfolio on site already for the second time, and we can well imagine to continue to grow in the region."

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.

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