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Allianz To Start Commercial RE Lending

Allianz Real Estate is set to enter the commercial real-estate loan business.

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.

Click here for the story from The Wall Street Journal.

Click here for additional coverage from Bloomberg.

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