EQS-News

VERIANOS SE with further acquisitions in Italy and Spain

EQS-News: VERIANOS SE / Key word(s): Real Estate VERIANOS SE with further acquisitions in Italy and Spain 19.05.2023 / 15:50 CET/CEST The issuer is solely responsible for the content of this announcement. VERIANOS SE with further acquisitions in Italy and Spain Increasingly attractive investment environment for value investors Further property acquisitions realized in Milan and Valencia to expand the existing portfolio Real estate funds with stable valuation reserves Cologne, 19 May 2023 – VERIANOS SE (ISIN: DE000A0Z2Y48) considers the investment environment increasingly attractive for its pursued investment strategies in the value-add and opportunistic segments.

Therefore, VERIANOS is further expanding its portfolio with two property acquisitions, hereby strengthening its presence in Europe. The first property is a modern office building that has been refurbished to a high standard. It is located in a highly demanded location in an up-and-coming business district in Milan. With this investment, VERIANOS is expanding its activities in the Italian market. Tax advisor for this acquisition was the firm Rödl & Partner, led by partner Claudio Finanze and Manager Paolo Zani.

Another office property was acquired in Valencia. The listed building is located in attractive proximity to the harbour and is very well suited for conversion into touristic use.

"The notarisation of both properties underlines our approach as an anti-cyclical investor" says Tobias Bodamer, Managing Partner of VERIANOS SE. "Especially in a difficult market environment, we are prepared to react quickly and with agility to investment opportunities as they arise and are currently in various further acquisition reviews in our core markets in Germany, Spain and Italy."

Despite the challenging market environment, the funds managed by VERIANOS have stable valuation reserves. The open market value of all properties held in the group's regulated funds rose more than 25% above the cost value at the reporting date of 31 December 2022. This constitutes a further increase compared to the previous year's value.