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Noratis buys 242 apartments from Catella

Noratis AG continues to expand its real estate portfolio. In Münster (Westphalia) the company has acquired 242 units with a total rental area of around 18,800 m². The seller is the institutional real estate fund Catella European Residential Property Fund.
The properties are located in the Northern part of Münster, only a few kilometres away from the city centre and with good access to public transportation. In addition, nearby shopping possibilities as well as schools and kindergartens secure a high residential value. The city of Münster has had an almost continuous positive development over the last years. The number of inhabitants has increased to around 315,000 - including around 20 percent of students. Moreover, Münster is known for its old town and is considered as a business and social centre. Noratis intends to further develop the newly acquired properties through active asset management during the coming years.

With this acquisition the company has once more underpinned the planned growth course. Since January 2020, in North Rhine-Westphalia alone, the company more than doubled its real property stock to around 800 units. In the Münster area, Noratis currently already owns a portfolio in Steinfurt.

“Münster is a highly attractive location - for the people from the region as well as for students from all over Germany and hence also for us as a portfolio developer of residential properties. The portfolio just acquired stands out with its good connection to the city centre and the existing development potential,“ says Flaminia zu Salm-Salm, Head of Transaction Management at Noratis AG.

“The European Residential Property Fund aims to further expand its allocation outside of Germany in order to further diversify its portfolio all over Europe. With Noratis we have found a professional buyer for the real estate portfolio in Münster. We are convinced that our residential units and the tenants are in good hands at Noratis,“ adds Benjamin Rüther, Head of Fund Management at Catella Residential Investment Management GmbH.

E&V Commercial Münster acted as an intermediary at the transaction. REIUS Rechtsanwälte Partnerschaft mdB acted as legal advisor for Catella.