Strategic real estate investment with Archstone in the US multi-family sector

"The Archstone venture is a compelling means to begin an investment program in the US multi-family sector, a core element of our U.S. real estate strategy and an investment alternative simply not available to the German Allianz investors within the Eurozone," said Olivier Piani, CEO of Allianz Real Estate.

The initial co-investments are prime assets in the Boston and Washington, D.C. metro areas. The commitment for new investments targets primary markets where Archstone has a significant presence and a strong operating track-record. Archstone will source and manage those investments.

James Stolpestad, CEO of Allianz Real Estate of America, adds, "The investment is well timed to allow our German investors to participate in the most pronounced phase of market recovery of the US multi-family sector with an excellent partner who can enhance returns from strong investment and operating skills."

"We are very excited to establish a strong long-term relationship with a world-class partner like Allianz," said Scot Sellers, Archstone's Chief Executive Officer. "Their people have been great to work with, and we are confident that by working together, we will be able to create tremendous long-term value for our partnership."

Archstone was represented in the transaction by M3 Capital Partners and Kirkland & Ellis LLP. Allianz was represented by Goulston & Storrs.

Olivier Piani: "The Archstone venture is a compelling means to begin an investment program in the US multi-family sector"

 
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