New Allianz Real Estate debt fund deploys over €1bn capital in five months

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Allianz Real Estate’s newly created debt fund has deployed over €1bn capital in less than six months.

The manager said its Pan-European Debt Fund, launched in July this year, has recently completed three further debt transactions.

The new deals include a €135m financing of mixed use development in Madrid, Spain; a €150m refinancing of Gränbystaden Galleria shopping centre in Uppsala, Sweden and a €316m refinancing of office and residential portfolio in Dublin, Ireland.

Previous financing projects realised via the platform include St. Katharine Docks in London and the refinancing of Noventa di Piave in Italy.

The new fund was launched to accommodate the growing demand from Allianz Group companies seeking to increase their exposure to real estate debt.

In October, Allianz Real Estate announced on the last day of Expo Real in Munich that it will be opening its newly created debt fund to third-party investors, “particularly pension funds and smaller insurers”.

Francois Trausch, the chief executive officer at Allianz Real Estate, said: “We look forward to building on this strong foundation in the months ahead as we prepare to open the fund to third party capital in 2019.”

Roland Fuchs, the head of European debt at Allianz Real Estate said: “The pace of progress is testament to the investment platform, which was designed to consolidate and simplify the investment process for both Allianz companies and potential third parties.”

Currently, almost €18bn of Allianz Real Estate’s €60bn real estate exposure is in debt.

 

 

 

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  • St Katharine Docks

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