Allianz: European Real Estate debt program closes record year 2021 with several flagship transactions in France

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Allianz Real Estate‘s European debt program closes a record year in 2021 with several flagship transactions in France

Munich/Paris. January 21, 2022

Allianz Real Estate, acting on behalf of several Allianz Group companies and third parties, delivered c. €2.2 billion of new loan production in Europe in 2021, the highest annual volume for the company in Europe to date. The record funding volume, split roughly evenly between core and transitional loans, means that the total assets under management of its European debt portfolio exceeded 11 billion euros at the end of the year. ‘year.

The company’s finance platform continues to be active in 12 European countries, diversified across the office, logistics, residential and retail sectors. Around two-thirds of the €2.2 billion in new loans in 2021 were eligible to be categorized as “green loans”, underscoring the increased focus on sustainability and ESG criteria overall debt activities of Allianz Real Estate. This strategic priority supports the company’s overall ESG program and its decarbonization goal of being net zero by 2050.

Allianz Real Estate ended the year with multiple transactions in one of its historic markets, France, particularly in Paris. The firm provided a facility for the acquisition of an office campus in Paris-Meudon and financing of 95 million euros to the ICAWOOD fund for the acquisition and renovation of offices in Paris-Clichy. These loans are in addition to the loan of 466 million euros to a consortium of borrowers for the refinancing of a portfolio of prime retail properties, mainly located in Paris and Brussels, the largest European debt transaction for Allianz Real. Estate in 2021. A €127m green development loan has been granted to French group Apsys to build a futuristic, state-of-the-art shopping and lifestyle center in Grenoble.

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Another Parisian exposure was added earlier in 2021 thanks to a major facility to JP Morgan AM and Altarea Entreprise for the acquisition and redevelopment of seven office assets near the Opéra Garnier.

The increase in transition and development financing, as well as the increase in ESG-eligible green loans, was a deliberate strategic decision by Allianz Real Estate to finance more forward-looking assets. In particular, this includes assets with a clear focus on sustainable operations and qualities such as superior user experience.

Eligible green loans in 2021 included €161 million to Canary Wharf Group to finance 10 George Street in Canary Wharf, London – Allianz Real Estate’s first single-asset Private Rental Sector Debt (PRS) transaction in Europe. Other transactions include the €300 million loan to the Arminius Group for the acquisition of the Grand Campus in Frankfurt; and a £240m facility to BentallGreenOak to support the development of a build-to-core portfolio of eight prime UK logistics assets.

The year was also marked by the successful increase in third-party volume under Allianz Real Estate’s Luxembourg-based European debt fund PAREC. New third-party capital inflows into the fund from BVK and another group of like-minded investors reached €610 million for the year, bringing total third-party commitments to almost one. billion euros to invest alongside Allianz.

Roland Fuchs, Head of European Real Estate Financing at Allianz Real Estate said: “2021 has been our strongest year in terms of new loan production, and we expect continued demand in 2022 across our 12 markets given the company’s unrivaled positioning in Europe and our deep Funding appetite The continued development of our Luxembourg debt fund also highlights the success of our “invest alongside Allianz” client approach.

“Our disciplined focus on blue-chip assets, borrowers and sponsors and our blue-chip ESG approach has enabled us to enhance our diverse, high-quality debt portfolio and deliver

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significant growth in 2021. We remain one of the few lenders able to provide large-scale financing, from €100 million to over €500 million, to major borrowers and institutions across multiple industries. Going forward, we expect ESG factors to become even more important and we are very well positioned to meet this market need. »

– To finish –

Allianz requests:

Allianz Immobilier

Philip Lee

+49 89 3800 8234 [email protected]

Citigate Dewe Rogerson (UK)

Hugh Fasken / Camilla Wyatt / Patrick Evans

[email protected]

About Allianz Real Estate and PIMCO

Allianz Real Estate is a PIMCO company, comprising Allianz Real Estate GmbH and Allianz Real Estate of America and their subsidiaries and affiliates. It is one of the world’s largest real estate investment managers, developing and executing bespoke global portfolio and investment strategies on behalf of a range of responsibility-focused global investors. , creating long-term value for clients through direct and indirect investments and real estate financing. . Operational management of investments and assets is carried out from 18 offices located in key gateway cities spread over 4 regions (Western Europe, Northern and Central Europe, United States and Asia-Pacific). For more information, please visit: www.allianz-realestate.com. PIMCO is one of the world’s leading bond investment managers. With its launch in 1971 in Newport Beach, California, PIMCO introduced investors to a total return approach to fixed income investing. In the nearly 50 years since, the company has continued to bring innovation and expertise to our partnership with clients seeking the best investment solutions. PIMCO has offices around the world and more than 3,000 professionals committed to providing superior investment returns, solutions and service to its customers. PIMCO is owned by Allianz SE, one of the world’s leading providers of diversified financial services.

Source: Allianz Real Estate, data as of 30and September 2021.

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These reviews are, as always, subject to the disclaimer below.

Important Information

Some of the statements in this press release may be forward-looking statements or statements of future expectations based on currently available information. Such statements are naturally subject to risks and uncertainties. Factors such as changes in general economic conditions, future market conditions, unusual catastrophic loss events, changes in capital markets and other circumstances may cause actual events or results to be materially different from those anticipated by these statements. Allianz Real Estate makes no representations or warranties, express or implied, as to the accuracy, completeness or currency of these statements. Therefore, in no event will Allianz Real Estate be liable to anyone for any decision made or action taken in relation to the information and/or statements contained in this press release or for any damages relating thereto. All opinions expressed were retained at the time of preparation and are subject to change without notice. Although any forecast, projection or target, if any, is for guidance only and is not guaranteed. Allianz Real Estate declines all responsibility in the event of non-compliance with these forecasts, projections or objectives. This document is not intended for distribution or use by any person or entity in any jurisdiction or country where such distribution or use would be contrary to law or regulation. This material is not and should not be construed as an offer to sell or the solicitation of an offer to buy or subscribe for any investment. This material is not intended to be investment advice, nor an offer or solicitation to buy or sell any financial instrument, nor an offer or recommendation regarding Allianz Real Estate and/or its products. None of the information or analysis presented herein is intended to form the basis of an investment decision, and no specific recommendations are intended. PIMCO is a registered trademark of Allianz Asset Management of America LP in the United States and throughout the world. ©2022, PIMCO.

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Allianz SE published this content on January 21, 2022 and is solely responsible for the information contained therein. Distributed by public, unedited and unmodified, on January 21, 2022 1:52:01 PM UTC.

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