Allianz Real Estate, acting on behalf of several Allianz Group and third-party companies, committed almost EUR 3 billion to the global residential sector in 2021. The firm’s assets under management (AUM) in the sector at the end of September 2021 stood at EUR 9 billion – in Europe, EUR 3.7 billion; the U.S., EUR 4.7 billion, and Asia-Pacific, EUR 0.7 billion – with further transactions in the fourth quarter of 2021 expected to push residential AUM closer to EUR 10 billion.
Over the past year, Allianz Real Estate has completed some of its most significant residential sector deals to date, including a number of firsts: its first single-asset Private Rented Sector (PRS) debt transaction in Europe, its first equity sector deal in Spain, and the first time it has invested in an institutional grade, affordable housing portfolio.
Key transactions in Europe over the past 12 months include the off-market transaction of its first PRS portfolio in Spain; the acquisition of a 300-unit affordable housing portfolio in Germany in an off-market forward purchase; and EUR 161 million in debt funding for the financing of 10 George Street in Canary Wharf, London – its first single-asset PRS debt transaction in Europe. In December, the firm also announced a joint venture with Heimstaden Bostad AB giving it exposure to a Swedish residential portfolio with a gross asset value of EUR 3 billion.
Read more: Allianz
