Allianz Real Estate Ends a Strong Year in the United States with Equity Investments in 53 State Street, Boston and the Terminal Stores Building in New York City

  • Allianz Real Estate deploys $728mn in new equity transactions in
    2018
    , including the historic Ferry Building in San Francisco, 53
    State Street in Boston and the Terminal Stores in New York City.
  • Allianz Real Estate’s U.S. debt team closes $1.9bn in
    financing activity
    , including several premier properties such as
    200 Occidental in Seattle, the BDO Industrial Portfolio in Ogden,
    Utah, and the Promenade at Downey in the Los Angeles metropolitan area.

NEW YORK–(BUSINESS WIRE)–As 2018 closes, Allianz announced another strong year of real estate
growth in the United States with the debt team originating nearly 60 new
transactions – a record number of closings for the calendar year – and
the equity team finalizing three high profile investments. This growth
in the United States reflects Allianz’s continued appetite for quality
real estate in the gateway cities of the world and makes a significant
contribution to its ambition to reach c.a. $110bn by the end of 2020.


“2018 again delivered strong growth and we are ending this year in a
very good position,” said Christoph Donner, CEO of Allianz Real Estate
of America. “This has been one of our most productive periods combining
an increase in our AUM with the continued expansion of our team. This
positions Allianz well to achieve future growth in line with the
long-term goals of our investors.”

Today, Allianz announces two new investments for its East Coast equity
portfolio: the Terminal Stores Building in New York, New York, and 53
State Street in Boston, Massachusetts.

The Terminal Stores Building is located in Manhattan’s west side
submarket just south of Hudson Yards. The property is a mixed use,
historic, rare building occupying a full city block. Allianz, alongside
Normandy Real Estate Partners, L&L Holding Company and JP Morgan will
work to optimize the building configuration and realize its full
potential.

53 State Street, the 1.24 million square-foot property also known
as Exchange Place, integrates the historic Boston Stock Exchange
Building that was completed in 1891 and the 40-story modern glass office
tower built in 1985. Allianz now owns a 49 percent interest in the
property.

On the West Coast, Allianz’s equity presence grew through its $132.6mn
capital contribution to the joint venture acquisition of the iconic
Ferry Building in San Francisco where Allianz Real Estate acquired a 45
percent interest with Hudson Pacific Properties owning 55 percent.

Allianz‘s 2018 financing activity also further diversified its
geographic footprint across the United States. High profile debt
investments included 200 Occidental ($82mn) – a Class A, LEED Platinum
certified office property in the heart of the Pioneer Square submarket
of Seattle; BDO Industrial Portfolio ($55.8mn) – four class A industrial
buildings constructed between 2016 and 2018 totalling 1.11mm sq ft
located in the office/industrial master planned park known as Business
Depot Ogden; and The Promenade at Downey ($85mn) – a 2015 built, 446,851
sq ft Regional Open-Air Shopping Center located in Los Angeles County.
The site was formerly home to NASA as they built key components of the
Saturn and Apollo space missions.

About Allianz
The Allianz Group is one of the world’s
leading insurers and asset managers with more than 88 million retail and
corporate customers. Allianz customers benefit from a broad range of
personal and corporate insurance services, ranging from property, life
and health insurance to assistance services to credit insurance and
global business insurance. Allianz is one of the world’s largest
investors, managing over 660 billion euros on behalf of its insurance
customers while our asset managers Allianz Global Investors and PIMCO
manage an additional 1.4 trillion euros of third-party assets. Thanks to
our systematic integration of ecological and social criteria in our
business processes and investment decisions, we hold the leading
position for insurers in the Dow Jones Sustainability Index. In 2017,
over 140,000 employees in more than 70 countries achieved total revenue
of 126 billion euros and an operating profit of 11 billion euros for the
group.

About Allianz Real Estate
Allianz Real Estate is the
strategic real estate organization within the Allianz Group and a
leading international real estate investment and asset manager. Allianz
Real Estate develops and executes worldwide tailored portfolio and
investment strategies on behalf of the Allianz companies, considering
direct as well as indirect investments and real estate loans. The
operational management of investments and assets is currently performed
in 5 regions, West Europe (Belgium, France, Italy, Luxemburg, Portugal,
Spain), North & Central Europe (Austria, CEE, Germany, Ireland,
Nordics), Switzerland, USA and Asia Pacific. The headquarters of Allianz
Real Estate are located in Munich and Paris. Allianz Real Estate has
approximately 60 billion euros assets under management.

These assessments are, as always, subject to the disclaimer provided
below.

Cautionary note regarding forward-looking statements
The
statements contained herein may include prospects, statements of future
expectations and other forward-looking statements that are based on
management’s current views and assumptions and involve known and unknown
risks and uncertainties. Actual results, performance or events may
differ materially from those expressed or implied in such
forward-looking statements.

Such deviations may arise due to, without limitation, (i) changes of the
general economic conditions and competitive situation, particularly in
the Allianz Group’s core business and core markets, (ii) performance of
financial markets (particularly market volatility, liquidity and credit
events), (iii) frequency and severity of insured loss events, including
from natural catastrophes, and the development of loss expenses, (iv)
mortality and morbidity levels and trends, (v) persistency levels, (vi)
particularly in the banking business, the extent of credit defaults,
(vii) interest rate levels, (viii) currency exchange rates including the
EUR/USD exchange rate, (ix) changes in laws and regulations, including
tax regulations, (x) the impact of acquisitions, including related
integration issues, and reorganization measures, and (xi) general
competitive factors, in each case on a local, regional, national and/or
global basis. Many of these factors may be more likely to occur, or more
pronounced, as a result of terrorist activities and their consequences.

No duty to update
The company assumes no obligation to
update any information or forward-looking statement contained herein,
save for any information required to be disclosed by law.

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personal data. Find out more in our Privacy
Statement
.

Contacts

David Heinsch, 612-455-1768
david.heinsch@padillaco.com

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