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Western and southern Europe are on the menu in the first instance for the UK insurer, followed by the Nordics, newly-appointed head of real estate James Spencer-Jones tells REC.
Nick Sanderson says the UK landlord obtained an interest cover ratio waiver on its sole secured loan to ensure 'flexibility' amid reduced retail rents.
Allianz
The real estate arm of the German insurer recently secured its first third-party fund investor for its vehicle focusing on the strategy.
Losses and write-offs on retail debt could reach £10bn, while £22bn of development loans face delays, the latest UK lending market report by Cass Business School predicts.
The chief executive of AXA Investment Managers – Real Assets has risen to the top by taking on one entrepreneurial challenge after another.
The moves by Allianz and AXA to combine real estate or alternatives entities are further steps to attract more money to non-traditional asset classes.
The European asset manager’s real assets, structured finance and hedge fund businesses will combine to form the new entity.
The Munich-based insurance powerhouse is moving its Allianz Real Estate platform into its PIMCO asset management business.
Finance Tower, Brussels
The deal for Finance Tower in Brussels’ central business district showed that banks and insurers can work together.
Lending organisations have become more focused on retaining property debt specialists, according to a recent compensation survey compiled exclusively for Real Estate Capital by executive search firm Sousou Partners.
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