According to Property Magazine International, more than 180 million euro were destined to finance ECE European Prime Shopping Centre Fund II, which bought Intu Asturias in Oviedo from Intu Properties and Canada Pension Plan Investment Board.
Around 134 million euro were destined to finance the acquisition of the Las Mercedes office complex, in Madrid, by Starwood Capital. The transaction was concluded in 2019.
This was the first time Allianz financed ECE Real Estate Partners. Roland Fuchs, Head of European Debt at Allianz Real Estate, commented that «we are delighted to build on our relationships with ECE and Starwood Capital with these financing transactions, which perfectly reflect our debt strategy. 2019 was a successful year for Allianz Real Estate’s European debt business and, in particular, for debt fund. We are pleased to be building further on that momentum at the start of 2020 with several prime transactions». And he added that «going forward, our debt strategy will continue to be built around the prime approach as the foundation of the disciplined growth of our portfolio».