14 February 2017
Madrid
Reporter: Theo Andrew

Allianz enter Spanish office market


Allianz Real Estate has issued a €155 million loan to La Finca Global Assets, entering the Spanish office market for the first time.

The deal is part of a €395 million refinancing of LaFinca GA’s office assets, with Allianz as the main lender. It is the third real estate debt transaction closed by Allianz Real Estate in Spain, and the first loan related to office space.

LaFinca GA’s business comprises of 230,000 square metres, which are more than 90 percent occupied. The company’s main shareholders are Grupo LaFinca and North American fund Värde.

Miguel Torres, head of Iberia at Allianz Real Estate, said: “Grupo LaFinca has demonstrated over more than 40 years of experience its capacity to develop high quality offices endowed with the conditions demanded by the companies of today, so we are fully confident in the value of our investment, and we hope to expand our relationship with them in the long term.”

Susana García Cereceda, chair of Grupo LaFinca and LaFinca GA, said: "Having a partner like Allianz Real Estate, with a long-term vision and financial soundness, endorses our company and our ability to successfully manage our assets."

More news
The latest news from Real Estate Investment Times
Join Our Newsletter

Sign up today and never
miss the latest news or an issue again

Subscribe now
Aviva acquires Bristol redevelopment
20 October 2017 | Bristol | Reporter: Becky Butcher
Aviva Investors has purchased the first phase of a redevelopment business park in Bristol for £30 million
Coyote names Rob Bould as non-executive director
19 October 2017 | London | Reporter: Theo Andrew
Rob Bould, who has 40 years of real estate experience, will help grow the data platform, which will track, manage and report the performance of real estate assets in real-time
Hammerson expands flagship Parisian shopping centre
19 October 2017 | Paris | Reporter: Theo Andrew
The 11,000-square metre property adjoins its Les Trois Fontaines centre, the firm’s recently refurbished flagship asset in Paris
SELF II reaches €500 million on third close
19 October 2017 | Paris | Reporter: Theo Andrew
The pan-European debt fund achieved the equity through institutional investors from France, Germany and Italy
Encore+ adds Dutch office for €50 million
18 October 2017 | Eindhoven | Reporter: Theo Andrew
The the pan-European open ended core-plus fund is co-managed by Aviva Investors and LaSalle IM, as fund manager and asset and transition manager, respectively
LGIM Real Assets lands Stansted hotel for £48.3 million
17 October 2017 | London | Reporter: Theo Andrew
The development, which was completed in July 2017, is the second hotel to be located on-terminal at Stansted Airport
Deutsche AM closes €568 million pan-European fund
16 October 2017 | London | Reporter: Theo Andrew
The core fund will focus on income and capital growth across the larger European economies in sectors including office, retail and logistics