Noratis Promissory Notes

About Company

A leading portfolio developer of affordable residential properties in Germany, listed on Frankfurt Stock Exchange since 2017, with market cap of EUR 81m.

Noratis business model is based on combination of regular rental income from its property portfolio, covering its recurring cost base, and additional upside from real estate development.

Highly experienced and committed management team with a successful track record.

In March 2020 Noratis attracted a new strong strategic shareholder – Merz Group, a privately held German company with global presence, operating primarily in healthcare industry. Its 2019 revenue reached EUR 1.1bn.

Merz Group has committed to invest up to EUR 50m additional equity in Noratis by the end of 2024. 

With additional financial support from its strategic shareholder, Noratis has decided to temporarily focus on portfolio expansion, by limiting property sales. These measures will potentially create a more stable revenue flow in the future, while allowing the company to use market opportunities presented by Covid-19.

Term Sheet

Additional information