Allianz pays $384m stake in NYC office building

Allianz has invested $384 million for a 49 percent interest in an office condominium in New York’s iconic 30 Hudson Yards office building. Allianz has entered into a sale-leaseback agreement as part of a consortium alongside Related Companies and a third-party investor, who have acquired the remainder of the office condominium.

The acquisition, which has been completed by Allianz Real Estate on behalf of several Allianz group insurance companies, follows the purchase of a 44 percent stake in 10 Hudson Yards, the first tower completed in the Hudson Yards development on Manhattan’s West Side, in mid-2016 for $420 million. The 30 Hudson Yards transaction will make New York the fifth most significant city for Allianz Real Estate, globally, in terms of total exposure.

“The United States continues to play an active, central role in our global diversification strategy, with