The sale was signed on December 20, 2007 and is expected to be finalized in the New Year.
Allianz has sold a property portfolio to the Whitehall Funds for EUR 1.7 billion
"This transaction enables us to reduce our over-concentration on buildings in Germany, and at the same time allows us to improve the structure of our remaining portfolio," said Karl Ralf Jung, Chairman of the Board of Allianz Immobilien GmbH.
Final preparations to the portfolio were made by Allianz Immobilien GmbH in fall this year and due diligence was carried out with a number of bidders. The portfolio consists of 190 office properties, including a number of buildings at smaller locations.
Jones Lang LaSalle has accompanied Allianz as transaction-consultant.
As with all content published on this site, these statements are subject to our Forward Looking Statement disclaimer.
Link to the disclaimer