Allianz Real Estate has provided a €400m loan to help finance a shopping centre in Germany owned by Unibail-Rodamco-Westfield (URW) and Canada Pension Plan Investment Board (CPP Investments).
Allianz said it has provided the sustainability-linked debt funding for the refinance of Westfield Centro, a 240,000sqm retail centre in Oberhausen, North Rhine-Westphalia. The funding was complemented with a €300m facility from co-arranger and agent Helaba.
Allianz said the Westfield Centro financing is one of three retail-sector deals closed in the second quarter of the year alone, with the other two – one in the Netherlands and one in France – worth a combined €430m.
Debora Sobel, the head of European debt origination in Munich at Allianz Real Estate, said the refinancing of Centro allows Allianz to round off a strong first half of 2022 and “demonstrates Allianz Real Estate’s leading position in European real estate debt”.
“Our strategy is to work with our borrowers to help them optimise their capital structure, create long-term value and realise growth opportunities across all sectors.”
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