Allianz Real Estate, the Munich-based property investment and asset managers, announced this week that it participated in a high-volume financing of a pan-European office property portfolio arranged and underwritten by Aareal Bank. According to a press release, the share of Allianz Real Estate in this senior financing (totaling €630 million) amounts to €365 million.
"Investing into this high-volume, Pan-European facility is in line with the growth and diversification strategy of European Allianz companies in the property sector," said Roland Fuchs, Head of European Real Estate at Allianz Real Estate GmbH. "Our cooperation with Aareal Bank has been successful, in particular with regard to structuring and documentation requirements specific to the insurance industry."
"This syndication is another milestone in Aareal Bank's cooperation with leading insurance companies such as Allianz. At the same time, it reflects our aim to win over institutional investors as syndicate partners, alongside banks," added Christian Schmid, Managing Director, Business and Syndication Management at Aareal Bank.
The portfolio with a gross leasable area of around 186,000 square meters is comprised of eleven office buildings in major cities of seven European countries, namely in Brussels, Hamburg, Paris, London, Milan, Amsterdam, Rotterdam and Gothenburg. The borrower is NorthStar Realty Finance Corp. who acquired the portfolio with a total value of €1.1 billion.
For more news and information visit Blumberg Partners.
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