24 November 2017
Reporter: Theo Andrew

Allianz and ABN AMRO provide €300 million loan for Dutch office

Allianz Real Estate and ABN AMRO Bank have provided senior financing to a consortium of investors to acquire The Atrium, an office asset in Amsterdam.

The deal, a €300 million seven-year fixed rate loan, is the largest in the Dutch market to date.

The consortium, comprised Amundi Real Estate and several Korean investors, purchased the 60,000-square metre property, constructed in 1976 but recently refurbished.

Located in the Zuidas business district of Amsterdam, the building saw the refurbishment of its south and the north towers, completed last year.

Roland Fuchs, head of European real estate finance at Allianz Real Estate, said: “The financing of The Atrium—the most prominent single asset financing in the Dutch office market—is another example of how Allianz is able to take large ticket sizes, either alone or alongside well-known partners like ABN AMRO.”

“The Atrium is yet another interesting financing deal in what has been a very successful 2017 for Allianz Real Estate. Having recently concluded debt investments in the UK, Italy, France, Ireland, Spain and the Czech Republic, we are pleased to expand our footprint in the Netherlands, furthering our strategy to broadly diversify our loan book on a pan-European basis.”

Erik Steinmaier, senior director of Real Estate at ABN AMRO, said: “This transaction underlines once more that we are able to successfully execute our strategy to provide our real estate clients with our balance sheet, but also to partner up with other institutional investors when this benefits our clients and results in a more optimal funding structure.”

Eastdil Securities advised the consortium, while Simmons & Simmons provided legal advice to Allianz Real Estate and ABN AMRO.

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