“2016 was a very active year for us,” declared Francois Trausch, CEO of Allianz Real Estate. “Given the ongoing low interest rates, the Allianz companies continue to find real estate an attractive investment opportunity. We have expanded our portfolio strategy to 24/7 megacities such as New York, Shanghai and London, as well regionally to Asia Pacific and Iberia. Over 2017 we will look to further diversify our portfolio geographically and product wise.”
Senior financing of London’s CityPoint deepens UK footprint
On behalf of two Allianz entities, Allianz Real Estate has participated with an undisclosed amount in the senior financing of the London landmark CityPoint, arranged and underwritten by Morgan Stanley and sponsored by Brookfield Asset Management. CityPoint Tower is a 36-storey office building located in the well-established city of London. The skyscraper comprises c. 66,000 sqm with a level of occupancy of c. 90 percent, leased to a range of highly reputable tenants, including international law firms.
For Allianz Real Estate, this transaction is part of the roll-out strategy to grow the debt exposure in the UK. The overall lending strategy for the UK will focus on core office, retail and logistics assets with prime quality sponsors.
Roland Fuchs, Head of European Debt for Allianz Real Estate, commented: "For Allianz Real Estate, this is the first single asset real estate debt transaction in the UK, and represents a stepping stone towards our overall UK lending strategy. The implementation of our UK strategy will lead to further diversification of our European debt portfolio.”