First Closing of the European Opportunities Fund
- First Closing of the VERIANOS European Opportunities Fund with capital commitments of EUR 20 million
- Target volume (fund equity) up to EUR 50 million
- First investment executed as a sale-and-lease-back transaction
Cologne/Frankfurt am Main, 21 July 2020 – VERIANOS Real Estate Aktiengesellschaft, the listed real estate company (ISIN: DE000A0Z2Y48) focusing on value investments in the European small and mid-cap real estate segment, announces the successful first closing of the VERIANOS European Opportunities Fund.
The European Opportunities Fund, which was initiated together with the subsidiary VERIANOS Capital Partners GmbH as a BaFin regulated alternative investment fund management company (AIFM), targets properties with value creation potential in Europe and invests between EUR 2 million and EUR 20 million per transaction. A special focus initially lies on the acquisition of properties in Germany and Spain. As part of the first closing, family offices and high net worth individuals together with VERIANOS’ co-investment committed EUR 20 million of fund equity. The fund has a target volume of EUR 50 million (fund equity), which will be used for investments in real estate projects with a total volume of around EUR 200 million.
VERIANOS Board Member Tobias Bodamer: “After establishing our diversified business model and building our BaFin-regulated AIFM platform, we have set ourselves the medium-term goal of accelerated, sustainable growth without losing focus on our proven qualitative business model approach. With the first closing of the VERIANOS European Opportunities Fund we have taken an important step in this direction and would like to thank the investors for the trust they have placed in us”.
At the same time, the VERIANOS European Opportunities Fund made its first investment in a sale-and-lease-back transaction. The building, which was acquired as an asset deal, is a fully let commercial property in a central location in Valencia with a future lettable area of around 5,000 sqm.
Tobias Bodamer: “Due to the economic impact of the COVID-19 pandemic, we see increasing volatility in real estate prices. For an investor like VERIANOS with a focus on properties with repositioning potential this also means an increasing number of investment opportunities. As a value investor with a focus on the European small and mid- cap segment we are observing the current developments on the real estate market very closely and remain convinced that we will be able to realise attractive investment opportunities in this environment.”
VERIANOS is a listed real estate company with headquarters in Cologne and offices in Frankfurt, Madrid, Milan and Valencia. The company sees itself as a real estate partner for family offices, high net worth individuals, institutional investors, fund initiators and financial institutions, connecting the real estate and capital markets. With its Investment and Advisory divisions VERIANOS realises customised investment products and sophisticated consulting and financing mandates for its clients. Services offered range from the development and structuring of investment products to the active management of the underlying assets. The focus lies on value investments in small & mid-cap properties as well as repositioning and restructuring concepts.
VERIANOS Real Estate Aktiengesellschaft
Management Board – Tobias Bodamer
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