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    – VERIANOS confirms earnings corridor
    – Fund business further expanded
    – Positive development will be reflected in the earnings figures for the second half of the year

    VERIANOS Real Estate Aktiengesellschaft confirms the earnings corridor of EUR 0.8 to 1.2 million planned for the 2015 financial year. The result of the first half of 2015 was typically negative for the industry. The main transactions are mostly in the second half of the year.

    In the course of 2015, the SMC 1 launched a fund for international semi-professional investors, for which the first closing has already taken place. Two properties have already been acquired for the portfolio and further acquisitions are in advanced negotiations. The fund is to reach a target volume of around 50 million euros.

    The implementation of a second fund with a target volume of around € 80 million is also at an advanced stage.

    Current co-investments and residential developments are doing well, in some cases better than predicted in the original plans.

    In order to generate income in the future with investments in the current market environment, strict discipline must be maintained in the acquisition of new properties. All investments must also be able to hold their ground in a market correction.

    In parallel with the Investment division, the expansion of the consulting business is being driven forward in order to broaden the mandate base.

    The consistent cost management of recent years has been continued. Among other things, potential lies in a renewed relocation of the Cologne office. This could potentially cut office costs by half.

    To increase awareness of the share and the group of companies, the company will be presenting itself for the first time in November 2015 at an investor conference in Milan.