DGAP-News

Aareal Bank and Allianz Real Estate cooperate in high-volume syndicated loan

DGAP-News: Aareal Bank AG / Key word(s): Financing/Real Estate
Aareal Bank and Allianz Real Estate cooperate in high-volume
syndicated loan

27.07.2015 / 11:32

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Aareal Bank and Allianz Real Estate cooperate in high-volume syndicated
loan

Wiesbaden, 27 July 2015 - Allianz Real Estate participated in a high-volume
financing of a pan-European office property portfolio arranged and
underwritten by Aareal Bank. The share of Allianz Real Estate in this
senior financing (totalling EUR 630 million) amounts to EUR 365 million.
The borrower is NorthStar Realty Finance Corp. who acquired the portfolio
with a total value of EUR 1.1 billion. Aareal Bank acted as Arranger, Agent
and Sole Underwriter for this facility, as already reported in its press
release dated 17 April 2015.*

The transaction is one of the largest syndicated loans agreed between banks
and institutional investors in Europe and one of the largest financings
provided by a German insurance company in this market to date. For Allianz
Real Estate, this is the first time that they are financing a cross-border,
pan-European portfolio with tranches in various currencies.

The portfolio with a gross leasable area of around 186,000 square meters is
comprised of eleven office buildings in major cities of seven European
countries, namely in Belgium (Brussels), Germany (Hamburg), France (Paris),
the United Kingdom (London), Italy (Milan), Netherlands (Amsterdam and
Rotterdam), and Sweden (Gothenburg). All buildings benefit from a very good
tenant mix.

Both syndicate partners were highly pleased with the transaction which was
completed quickly and smoothly, thanks to the professional cooperation of
all parties involved.

"This syndication is another milestone in Aareal Bank's cooperation with
leading insurance companies such as Allianz. At the same time, it reflects
our aim to win over and establish institutional investors as syndicate
partners, alongside banks," declared Christian Schmid, Managing Director,
Business and Syndication Management at Aareal Bank.

Roland Fuchs, Head of European Real Estate at Allianz Real Estate GmbH
said: "Investing into this high-volume, pan-European facility is in line
with the growth and diversification strategy of European Allianz companies
in the property sector. Our cooperation with Aareal Bank has been
successful, in particular with regard to structuring and documentation
requirements specific to the insurance industry."

* Note to editorial offices: Further information on the financing is