Verianos buys a building in Valencia to convert it to tourist use

Verianos buys a building in Valencia to convert it to tourist use

During this month of May, the German fund Verianos has expanded its portfolio with two real estate acquisitions in Europe, thus reinforcing its presence in strategic markets, with a building in Milan and another in the city of Turia.

Close to the port, the building acquired in Valencia has a really attractive location in terms of tourism and is "very suitable" for conversion to tourist use.

The move has been carried out through the Verianos European Opportunities Fund. The fund sees an increasingly attractive investment environment for the investment strategies it pursues in the opportunistic and value-add segment, it said.

"The certification of both properties underlines our approach as a countercyclical investor," says Tobias Bodamer, managing partner of Verianos SE. "Especially in a challenging market environment, we are prepared to react quickly and nimbly to investment opportunities as they arise and are currently in the process of examining further acquisitions in our core markets of Germany, Spain and Italy."

Despite the challenging market environment, the Verianos funds have stable valuation reserves. As at 31 December 2022, the sum of the market values of all properties held in the group's regulated funds was more than 25% above the purchase price, representing a further increase compared to the previous year's value.

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