Frankfurt For the Allianz the transaction was small: the world’s largest real estate investor sealed the purchase of a portfolio of 300 apartments in Nuremberg a few days ago. The company paid the project developer 135 million euros for this; a tiny fraction of the 71 billion euros that Allianz Real Estate manages for its investors. But the industry has been paying attention to the deal.
For good reason: “The transaction is based on a clear strategic realignment,” says Nicole Pötsch, Head of Acquisitions & Sales for Northern & Central Europe at Allianz Real Estate, in an interview with Handelsblatt.
Allianz already owned apartments in Germany for its funds before this deal, but in recent years the company had mainly bought office and retail properties. It is the first time in a long time that the insurance giant has invested in the housing market.
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