Allianz and Heimstaden Bostad expand partnership with €650m of new equity

Allianz Real Estate, on behalf of Allianz companies, and Heimstaden Bostad are injecting SEK 7,000 million (€650 million/$674 million) in new equity into their existing Swedish joint venture, using the proceeds to repay debt.

Simultaneously, Allianz and Heimstaden Bostad are forming a new joint venture comprising Allianz’s German residential real estate portfolio, investing €262 million ($273 million).

“After a successful cooperation in the first year in Sweden, we are very pleased to further expand our partnership with Heimstaden Bostad into Germany. With two experienced, like-minded partners working together, we are well positioned to deliver the ESG improvements needed to meet our decarbonization targets,” said Nicole Pötsch, head of investments and strategic development for North & Central Europe, Allianz Real Estate.

Christian Fladeland, CIO at Heimstaden, said, “We are happy to join forces once again with Allianz, a partner who matches ou