Allianz Real Estate is set to enter the commercial real-estate loan business, The Wall Street Journal reports. The firm is finalizing a deal to lend about €50 million to an investor to finance the acquisition of an office building in Germany.
The property-management unit of Allianz will target to lend around €1 billion over the next 18 months, said Allianz Real Estate CEO, Olivier Piani. The firm will fund senior debt and seek the same kinds of assets that it would buy.
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