The Allianz companies are continuing their pan-European financing strategy for commercial real estate in their core markets, too. The latest example is a loan for "Window", a prime office building in the La Défense business district of Paris. Allianz is the sole lender, providing about €300 million to Oxford Properties, the real estate arm of Canadian pension plan OMERS.
"With this transaction we expanded our European loan book to €6 billion in a short period of time after having reached €5 billion in the 1st quarter of this year," declares Roland Fuchs, Head of European Real Estate Finance of Allianz Real Estate.
Window enjoys a prime micro-location in La Défense. With seven storeys and approximately 44,200 square metres of floor space, the building is currently being revitalized from top to bottom and will be delivered in 2018. The main tenant is RTE, a state-owned French company responsible for the power grid in France.