Allianz Real Estate invests EUR 2b in 2011

Allianz Real Estate has confirmed it carried out almost EUR 2 bn of equity and debt investments during 2011. Direct investments accounted for around EUR 1 bn with significant transactions including the acquisition of an 80% stake in the Skyline Plaza shopping centre in Frankfurt and the purchase of Forum Seine, a complex consisting of two buildings totalling 32,825 m² in Issy-les-Moulineaux, southwest of Paris.

Indirect investments were effected through joint ventures with AMB for logistics and investment funds in the US market, and totalled more than EUR 500 mln.

The third pillar was debt investment. In Europe, Allianz Real Estate carried out its first commercial real estate financing in Germany by providing a loan for the refurbishment of Deutsche Bank’s green towers headquarters in Frankfurt. In the US, the provision of 20 commercial loans with a total value exceeding $1 bn increased ARE's US loan portfolio to $6.1 bn.

'Despite a difficult financial environment, we had a very successful year in 2011 and managed to raise investment to around EUR 2 bn. The far-reaching changes that banks are experiencing are also a great opportunity and we are determined to develop the debt activity we launched in 2011. 2012 will also be a challenging year, and we may look to new markets outside the eurozone,' commented Olivier Piani, CEO of Allianz Real Estate. Part of the German insurance group Allianz, Allianz Real Estate has EUR 19.5 bn in assets under management.

Allianz Real Estate comes in at number 13 in PropertyEU's ranking of the top direct property investors in Europe during 2011. The ranking is published in the March edition of PropertyEU Magazine. Click on the link below to subscribe