• “Florapark” project: NORSK joining forces with Cologne multi-family office DERECO
• David Noll, DERECO’s CIO: “The partners and the project have convinced us”

Frankfurt, Germany / 17 June, 2019 – In a joint venture with the Cologne-based multi-family office for real estate assets DERECO, NORSK Deutschland AG acquired a 5,500-sqm greenfield plot in Saarbrücken where some 200 student and micro apartments are going to be built by mid-2021. Located in Meerwiesertalweg between central Saarbrücken and the university campus, five houses will feature student apartments whereas two are earmarked for micro apartments. Total floor space amounts to 11,700 sqm. As an addition to the housing project, the partners intend to build 95 underground parking bays.
Thomas Schulze Wischeler, CEO of NORSK Deutschland AG, says: “We are delighted to have found DERECO, a renowned multi-family office, as a new partner to deliver on our project pipeline. In various places across Germany, we’ve secured a number of projects ready for joint implementation with our partners according to plan. NORSK Deutschland is on track!”
David Noll, DERECO’s CIO, says: “The location, the project concept and the developing partners from NORSK Deutschland have convinced us. Both the project and the partners perfectly match our strategy. Such new supply to the Saarbrücken housing market will meet local demand, which is huge. Incidentally, we consider this project a successful starting point for a strategic partnership of both companies.”
The project is planned by BÄUERLE architekten + brandschutz, an architectural firm from Saarbrücken. Consultancy for the transaction was provided by BGHS Benkert Groh + Partner, Frankfurt, and Taylor Wessing, Berlin.

About NORSK Deutschland AG
NORSK Deutschland AG was established in April 2018 by Thomas Schulze Wischeler, who had served long years on the Management Board of IFM Immobilien AG, a publicly listed entity from Frankfurt. Originally created as a spin-off of IFM Immobilien AG, the company develops commercial and housing real estate projects either under exclusive ownership or jointly with co-investors.
As an INVESTOR AND SERVICE COMPANY IN REAL ESTATE, NORSK Deutschland AG develops office, hotel, student/micro apartment and other housing projects for national and international investors, making available its broad expertise in project development, project management, transactions and asset management not least to third parties as a service provider.
The NORSK partner scheme is an opportunity for real estate investors to capitalise on project developments with attractive returns – project-specific, partnership-based, customised and without legacy issues.