Allianz Real Estate Germany GmbH defies the economic crisis

"With these very good rental results we have proved that Allianz Real Estate Germany is an efficient investment and asset manager even in times of economic crisis", said York von Pannwitz,  the Chief Asset Management Officer at Allianz Real Estate Germany GmbH. "We have recorded a good level of demand for our property which, following in-depth fine-tuning of the portfolio in recent years, is now heavily concentrated in attractive locations in cities which are the economic powerhouses in Europe." The office properties in the Allianz portfolio include well-known properties such as, for example, mainBuilding opposite the Alte Oper in Frankfurt / Main, the Sprinkenhof in the Kontorhausviertel in Hamburg, the Forum in Amsterdam and the "Bundespressekonferenz" in Berlin.

In 2009 approximately 65 percent of the spaces were rented out in Germany, and a further 35 percent was rented out within the neighbouring European countries.

The successful work carried out by Allianz Real Estate Germany's own sales teams working together with the external broker associates made a crucial contribution to the success in renting out property in 2009. In addition to this, the company specifically targets the requirements of both potential and current tenants with its professional asset management team. Mr von Pannwitz went on to say that, "Our sales strategy in conjunction with logical and systematic customer-orientation in asset management has proved itself in a time of crisis."

The Company is about to enter into more rental agreements. Mr von Pannwitz said, "We are looking forward to 2010 with confidence with regard to the rental business as well as to new investments with which we shall continue to expand the Allianz property portfolio."

York von Pannwitz: "With these very good rental results we have proved that Allianz Real Estate Germany is an efficient investment and asset manager even in times of economic crisis"

Allianz Real Estate Germany GmbH is responsible for the investment and asset management of the real estate investments of the Allianz companies in Germany, Austria, Switzerland, Eastern Europe and Scandinavia. It is a subsidiary of Allianz Real Estate GmbH which forms the strategic umbrella under which all the Allianz real estate investments worldwide are controlled. The business divisions of Allianz Real Estate Germany include: operative implementation of real estate investments and sales, commercial leasing, asset management, technical engineering as well as the control of external service providers in property and centre management. The head office of Allianz Real Estate Germany is in Frankfurt am Main. Together with its divisions in Berlin (North), Frankfurt/Main (Central) and Munich (South), it oversees a real estate portfolio with a market value of around 5 billion euros.

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