Allianz Real Estate has acquired two manage-to-core office developments in Saint-Ouen, Paris, on behalf of several Allianz group companies.
The transactions, both 50-50 joint ventures with a leading French public financial institution, are forward purchases with a total value of €415.6 million ($461 million). For Allianz Real Estate, the transactions support its focus in tier 1 cities and represent an opportunity to invest in a promising area.
“These two exceptional office assets are located in a first-class and fast-growing district near Paris and underline our intention to expand our portfolio while integrating the highest environmental and technological standards. The acquisition reinforces Allianz Real Estate’s strategy to strengthen our presence in Europe’s key cities,” said Alexander Gebauer, chief executive f
