Noratis AG is successfully expanding its existing portfolio in North Rhine-Westphalia. The company has acquired 48 units with total rental space of around 3,405 square metres in Essen and Remscheid (Rhine-Ruhr metropolitan region). It was agreed not to disclose the purchase price.

The transfer of rights and obligations has already taken place. Essen is among the German cities with the strongest economic growth, and Remscheid is also characterised by strong industry. The properties are centrally located and were built between 1965 and 2001.

Local shops, doctors, schools and nurseries are all available close by and can be reached on foot. In addition to modernisation, Noratis AG is also looking into the implementation of energy-saving measures in the newly acquired properties.