German insurer Allianz and property lender Helaba have jointly financed PGIM Real Estate's purchase of the first three parts of the 'Austria Campus' project in Viennwith a loan in excess of €300 mln.
PGIM Real Estate has bought the asset alongside German and Swiss institutional investors a from Austria's Signa Group. Upon completion, the asset will be the headquarters of UniCredit Bank Austria, while the other anchor tenant will be the Roomz Design Hotel.
'The financing of Austria Campus emphasises the broad diversification strategy of Allianz in Europe,' commented Roland Fuchs, head of European Real Estate Finance of Allianz Real Estate.
Signa will handle the project through the development and construction phases. The mixed-use building ensemble at Vienna's Praterstern railway station is one of Europe's largest cohesive office developments, comprising six structures with over 200,000 m2 of office space.
'We are delighted to have realised, in close cooperation with Allianz, a customised finance deal with a loan amount of over €300mn for our customer PGIM Real Estate. It was important to consider the specific criteria of the acquisition structure. "This is recognition of effective and professional team performance of all the partners in-volved,' concluded Christian Schmid, Chief Representative of Helaba.
