Allianz Real Estate has refinanced a French office portfolio for listed property company Eurosic.

The German insurer said it provided €163.4m of debt backed by a portfolio of nine core office assets.

The finance has a 20-year term.

Eight of the assets are in Paris, with one property south of the capital in Montrouge.

Allianz said its insurance companies, Allianz Leben, Allianz Vie and Allianz SpA, provided the finance.

The fixed rate facility has a 55% loan-to-value ratio.

Allianz recently provided $200m (€184m) of debt to a fund managed by Clarion Partners in a similar deal.

The German insurer’s debt division financed 10 assets in the US for the fund. 

The loan is secured by five multifamily assets in Massachusetts, New Jersey, Texas and California.

In Europe, the lender this year made its Irish real estate debt debut, financing a portfolio acquired by Starwood.

The German institutional investor extended a €150m loan as part of a financing package with Morgan Stanley, which itself provided €300m.