Lazari Investments has secured a £400m loan from Allianz Real Estate to finance five of its central London offices.
The financing deal, which is Allianz’s largest single-loan debt transaction in Europe, covers more than 630,000 sq ft of office space across the capital.
The deal was completed through Allianz’s Luxembourg-based debt fund PAREC, which was launched in 2018 to simplify access to European real estate investments for Allianz group insurers and third-party investors. The fund now has €3.4bn of assets under management.
The deal marks the seventh debt transaction in Europe that Allianz’s newly established debt team have struck in London.
Shripal Shah, head of debt origination – London at Allianz, said: “Despite the current environment, the UK market continues to offer excellent opportunities for investment, with London in particular remaining one of Europe’s most active and attractive property markets.”
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