Cologne-headquartered real estate partnership Verianos has inked deals for two properties in Italy and Spain in a bid to expand its European portfolio.
The first property is a modern office building in Milan, Italy that Verianos said had been refurbished to a high standard. It is located in a presitgious location in an up-and-coming business district in Milan and enables the firm to expand its Italian holdings.
The firm also acquired an 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, according to Verianos.
'The notarisation of both properties underlines our approach as an anti-cyclical investor,' said Tobias Bodamer, the firm's managing partner.
He added: '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, Verianos said that 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.
Verianos is a real estate private equity and advisory company that targets assets with a high value creation potential in Europe alongside long-term oriented private investors. The firm focuses on impact and value investments in the small and mid-cap segment. Individual asset volumes tend to range from €2 to €25 mln.
The tax advisor for the Italian acquisition was the firm Rödl & Partner, led by partner Claudio Finanze and Manager Paolo Zani.
