Allianz Real Estate has financed two acquisitions in Spain with loans worth €314m.

The manager said it recently provided over €180m to the ECE European Prime Shopping Centre Fund II’s acquisition of the Intu Asturias retail asset in Oviedo and has also provided a €134m loan, late last year, to finance Starwood Capital’s acquisition of the Las Mercedes office park building in Madrid.

Roland Fuchs, head of European debt, Allianz Real Estate, said: “We are delighted to build on our relationships with ECE and Starwood Capital with these financing transactions, which perfectly reflect our debt strategy – prime sponsors and top assets.

“2019 was a successful year for Allianz Real Estate’s European debt business and, in particular, for our debt fund. We’re pleased to be building further on that momentum at the start of 2020 with several prime transactions. Going forward, our debt strategy will continue to be built around the prime approach as the foundation of the disciplined growth of our portfolio.”

Launched in mid-2018 to simplify access to European real estate debt investments for Allianz group insurers and third-party investors, Allianz Real Estate’s Luxembourg-based debt fund now has close to €3bn in assets under management.