In a sale-leaseback deal, Allianz SE, the property arm of German insurer Allianz AG, has agreed to provide a €315 million loan for Deutsche Bank AG's two-tower headquarters in Frankfurt according to a San Francisco Chroncle article. Allianz Real Estate provided the loan for the DWS Access Deutsche Bank Tuerme fund, the mutual funds unit of Deutsche Bank. Reportedly Deutsche Bank plans to lease the buildings for 15 years and has an option to extend the tenancy by another five years. Deutsche Bank previously announced in March that it had agreed to sell and lease back its two towers in Frankfurt to a fund run by DWS for about €600 million.
The Deutsche Bank Twin Towers property boasts two skyscrapers, each 155 meters tall, that opened in 1985 providing 808,000 square feet of space. Deutsche Bank Group headquarters have been located in the buildings in central Frankfurt for more than 25 years.
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