Allianz Real Estate expands in key markets

By Bong Xin Ying / EdgeProp Singapore | March 12, 2019 11:14 AM SGT
Allianz Real Estate’s assets under management (AUM) rose 13% y-o-y, to EUR63.5 billion at the end of 2018 from EUR56.4 billion at end-2017, according to the investment and asset manager of the Allianz Group. In Asia, its AUM hit a record high of EUR3.0 billion at end-2018, compared with EUR1.9 billion the year before.
In 2018, Allianz Real Estate expanded its footprint in markets including China, India, London, Prague and Stockholm. Key equity investments include the acquisition of the ZLink office building in Beijing, the Atlas complex in Munich, the Ocean Financial Centre in Singapore, the Monteburgos site in Madrid, and the Chapter Student Housing Platform in London. In October, it announced a stake in the KaiLong Greater China Real Estate Fund II, a closed-end vehicle targeting value-add commercial real estate opportunities in China and Hong Kong.
In the US, Allianz Real Estate last year ploughed USD728 million into new equity transactions, which included the Ferry Building in San Francisco, 53 State Street in Boston, and the Terminal Stores in New York City.