Allianz has announced its €100m commitment to the Hines European Value Fund, widening its exposure to Value Add opportunities on a Pan European basis. Allianz Real Estate has conducted the transaction on behalf of several German Allianz entities.
Having raised €326m since the first July closing, the Hines European Value Fund is well underway to reach its target of €500m by the end of the year. The fund focuses on office and retail in top-tier cities in the major markets of Western Europe.
Olivier Téran, Allianz Real Estate Chief Investment Officer, said: “Europe remains a key focus of our investment strategy. Finding good opportunities at reasonable yields is getting more and more difficult, especially in top-tier cities. Our new partnership with Hines will increase our exposure to pan European Value Add sector and consequentially provides our investors with superior returns that can be achieved by repositioning and redeveloping assets.”
