Allianz further diversifies its European debt investment portfolio geographically but also with respect to asset classes. Latest example is the re-financing of a logistics portfolio in the Czech Republic
Allianz Real Estate arranged the transaction on behalf of several Allianz entities. The borrower is CTP Property N.V. one of the leading logistics companies in CEE and forms part of their strategy to extend their network of financing partners outside the CEE region – in this instance, with Allianz and ING Bank N.V.. The total loan amounts to €160mn of which Allianz takes a share of €100mn. The loan serves both to refinance existing loans from a group of other CEE banks and to finance new projects which have been completed in 2017.
“This is our first financing of logistics real estate in the Czech Republic,” said Roland Fuchs, Head of European Commercial Real Estate Finance of Allianz Real Estate. “With this transaction we both expand our footprint in CEE and increased the logistic share in our European portfolio, not only by indirect investments in logistics funds but also by debt transactions.”
"We are very pleased with the signing CTP and Allianz/ING. This new credit confirms CTP's efforts to expand our portfolio of financial partners to Western European institutions" said Zdeněk Raus, Financial Manager at CTP.
The portfolio of CTP comprises 22 warehouses and light industry properties with ca. 325.500 sqm across the Czech Republic.
Demand for attractive logistics properties is growing all over Europe. Investments in this asset class are an attractive alternative for institutional investors like Allianz. By working with external partners with strong expertise in the logistics markets they provide attractive returns and minimize risks.