Allianz extends UK footprint through the financing of London’s 55 Baker Street

Paris/Munich, 09/12/2017

Long term debt investment worth GBP212 million implemented by Allianz Real Estate for mixed-use building 55 Baker Street, London / Allianz confirms its presence in the UK through its second landmark transaction, having co-financed the CityPoint Tower earlier in the year

Allianz Real Estate has extended its presence in the UK real estate market through its second landmark transaction of the year. The defensive real estate financing investment was made alongside experienced borrower London & Regional to refinance 55 Baker Street, a mixed-use building in London´s West End.

Out of the total facility, Allianz's share in the senior loan is of GBP 212 million and has been implemented by Allianz Real Estate on behalf of two Allianz companies as part of its debt strategy for the UK.

"We find this conservative deal configuration very appealing and, prime real estate like 55 Baker Street supported by top quality sponsors, suits our approach to European debt investments," said Roland Fuchs, Head of European Real Estate Finance at Allianz Real Estate. "55 Baker Street also expands our UK portfolio, supporting the diversification strategy that the Allianz companies have been pursuing since 2013."

55 Baker Street is one of the iconic buildings at the heart of London's Marylebone district. A former Marks & Spencer headquarters, the property is a mixed use building with ca. 48,500 sqm (43,400 sqm office space, 4,900 sqm retail space and some 
residential units). Acquired by London & Regional Properties in 2005 and 
restructured in 2008 with modern standard it obtained "Excellent BREAM" rating as highly energy efficient. A resilient tenancy schedule, an occupany rate of 100 percent and mainly longterm leases provide excellent protection against short term volatilities in the London rental office market.

Tagged with:

European Debt UK

Press Contact:

Allianz Real Estate GmbH and Allianz Real Estate of America, their subsidiaries and affiliates are known jointly as “Allianz Real Estate”. Allianz Real Estate is a PIMCO company. When introducing a property investment opportunity to Allianz Real Estate you acknowledge that we are under no obligation to accept your introduction or enter into any agreement with you. Fees, commission or other payments in respect of introductions shall only be payable where there is a signed written agreement to that effect entered into between Allianz Real Estate and the introducer. By submitting an introduction to Allianz Real Estate you shall be deemed to have accepted the aforementioned terms.
PIMCO is a trademark of Allianz Asset Management of America L.P. in the United States and throughout the world.  ©2022, PIMCO.