Allianz Real Estate has provided €290m loan for Bayerische Versorgungskammer’s (BVK) investment in a Dublin shopping centre.
The seven-year fixed-rate loan, arranged on behalf of several Allianz entities, is for Liffey Valley Shopping Centre, which was acquired last year by BVK.
BVK, Germany’s biggest pension fund, acquired the asset from Hines, HSBC Alternative Investments and Grosvenor in December 2016. Hines continues to manage the property.
“Ireland has provided attractive opportunities in a short period of time,” said Roland Fuchs, European head of real estate finance at Allianz Real Estate.
Fuchs said the investments had “resulted in Ireland becoming a notable part of our portfolio”.
Allianz Real Estate’s European and US real estate debt portfolio totals just over €15bn.