Allianz Real Estate has entered the French property lending market with the origination of a EUR 275 mln loan in a joint venture with banking group Société Générale.
Allianz Real Estate has entered the French property lending market with the origination of a EUR 275 mln loan in a joint venture with banking group Société Générale.
The German insurance firm has granted the seven-year loan at a fixed cost of 4% to listed office giant Foncière des Régions.
Allianz Real Estate provided EUR 200 mln while Société Générale acted as agent and arranger and provided the remaining EUR 75 mln. The loan will be used to finance two office buildings let entirely to France Telecom.
Earlier this year Allianz Real Estate announced its second financing deal in Germany with the issue of a loan to finance the acquisition of Gropius Passagen in Berlin by a partnership of US pension fund TIAA-Cref and local developer Mfi.
