PressNewsFinancialsStakes and investments: Allianz Acquires 45% Ownership in Park Place Orange County’s premier mixed-use office campus

Allianz Acquires 45% Ownership in Park Place Orange County’s premier mixed-use office campus

Service & Contacts

Allianz Group Communications
Koeniginstr. 28
80802 Munich
Germany

Contact overview

Receive the latest Allianz news.

Newsletter

Follow Allianz in the social networks:

Facebook
Twitter
Google+
LinkedIn

  • Contact

  • Newsletter

  • Social Media

Allianz has acquired a 45 percent interest in Park Place capturing a rare opportunity to own a portion of one of the best performing mixed-use office campuses in Southern California.

 

Allianz SE
Munich/New York, Oct 14, 2016

The global insurance company Allianz has acquired a 45 percent interest in Park Place capturing a rare opportunity to own a portion of one of the best performing mixed-use office campuses in Southern California. Allianz Real Estate of America executed the transaction on behalf of its Allianz Group Investors. Allianz joins LBA Realty and Principal Real Estate Investors in a Joint Venture. Financial terms of the deal were not disclosed.

Park Place is a premier mixed-use asset totaling 250.000 square meters (approximately 2.7 million square feet) of office and retail property. It offers its high quality tenant base in a setting with immediate access to a diverse array of onsite restaurants, retail and residential amenities, as well as a new boutique hotel. Allianz has acquired a stake in the six assets that make up the office campus, the 3121 and 3333 Michelson office towers, and the retail center. In total, the Allianz investment spans 11 buildings encompassing approximately 204.000 square meters (2.2 million square feet).

“This transaction represents the first direct investment by Allianz Real Estate in California” said Christoph Donner, CEO of Allianz Real Estate of America. “We are delighted that this development underscores our commitment to investing in sustainable properties alongside the best owners and operators in their respective markets and asset classes.” Park Place has achieved LEED Gold EB status for its commitment to environmental sustainability.

Over the past six years, the property has been completely redeveloped including a significant reduction in the carbon footprint through various energy efficiencies, water conservation and recycling programs, creating a major sustainable environment. The comprehensive architectural and landscape theme that carries throughout the 105-acre master plan provides a distinguished backdrop for tenants and residents. The property is over 90% leased to global corporate headquarters, technology, creative, and financial service companies.

  Forward Looking Statement disclaimer

As with all content published on this site, these statements are subject to our Forward Looking Statement disclaimer:

 

  Press contact

Roland Deger
Allianz Real Estate
Phone +49.89.1220-7677
Send email

  More at allianz.com

Allianz and StreetScooter enable business customers to start e-mobility with ease

Allianz-Allianz and StreetScooter enable business customers to start e-mobility with ease
Jul 19, 2018 | Allianz SE

Allianz and StreetScooter now enable business customers to start into electric mobility with greater ease. Allianz is offering third-party liability and comprehensive insurance for vehicles from StreetScooter GmbH, a subsidiary of the world's leading logistics provider Deutsche Post DHL Group. 

More...

AGCS Safety and Shipping Review 2018: Freaky Fridays

Allianz-AGCS Safety and Shipping Review 2018
Jul 18, 2018 | Allianz SE

Fridays are the days to look forward to, but not if you’re a sailor. Freaky Fridays, the new Bermuda Triangle, the unluckiest ship and a lot more is on the radar in the Safety & Shipping Review 2018 by Allianz Global Corporate & Specialty (AGCS)...

More...

Allianz Group completes acquisition of Ensure Insurance in Nigeria

Allianz-Allianz Group completes acquisition of Ensure Insurance in Nigeria
Jul 18, 2018 | Allianz SE

Allianz Group has announced the completion of the acquisition of 99.03 percent of the shares in Nigerian insurer Ensure Insurance plc from its core shareholder Greenoaks Global Holdings Ltd. (GGH). Ensure Insurance plc offers life and non-life insurance services and generated 18.2 million euros in gross premiums written in 2017.

More...
More...