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Allianz Joins with Aareal on €630M Syndication

By Tony Seruga

The portfolio includes Condor House in London.

MUNICH—Allianz Real Estate has taken a €365-million participation in Aareal Bank’s €630-million financing for NorthStar Realty Finance Corp. The loan, which partly financed NorthStar’s acquisition of 11 class A office properties, is one of the largest syndications between banks and institutional investors in Europe, as well as one of the largest financings provided by a German insurance company in this market to date.

GlobeSt.com reported this past December that New York City-based NorthStar paid €1.1 billion, or approximately US$1.34 billion, to acquire the two-million-square-foot portfolio across seven gateway markets, including Condor House and Portman Square House in London. The acquisition, in partnership with Cale Street Partners, closed this past April…

Allianz Joins with Aareal on €630M Syndication

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