Investors - DECEMBER 15, 2014

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Allianz forms JV to co-invest up to $1b in U.S. real estate

Allianz Real Estate of America and Manulife Asset Management Private Markets, the private asset management arm of the Canadian financial service provider Manulife, have officially announced a $1 billion co-investment partnership in U.S. real estate.

“Allianz has ambitious goals to continue to expand its real estate presence in the United States,” said Christoph Donner, CEO of Allianz Real Estate of America, in a statement. “Our investments in 1100 New York Ave. and 191 North Wacker Dr. represent the type of high-quality assets in which we seek to invest and correspond to our investment strategy.”

As part of the co-investment, John Hancock Real Estate — the U.S. real estate unit of Manulife Asset Management Private Markets — has sold an 80 percent interest in two of its class A office assets to Allianz: the 37-story, 734,000-square-foot office located at 1100 New York Avenue in Washington, D.C., and the 12-story, 470,000-squa

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