ACROSS | The European Retail Real Estate Magazine

Investment

Allianz finances Liffey Valley in Dublin

Image: Hines

Acting on behalf of several Allianz entities, Allianz Real Estate has closed the financing for Liffey Valley in Dublin.

The company is the sole lender and provided a 7-year, fixed-rate loan at an all-in rate and a conservative LTV. With this investment, Allianz has again emphasized its strategic focus on alternative investments such as infrastructure and real estate. The long-term loan of over €290 million was made via Universal Investment on behalf of German pension fund BVK Bayerische Versorgungskammer.

Hines, who sold Liffey Valley to BVK in 2016, continues to act as the asset and development manager.

“Ireland has provided attractive opportunities for Allianz through real estate investments in just a short time,” said Roland Fuchs, European Head of Real Estate Finance. “A combination of the Liffey Valley loan, our direct investment in Dundrum Shopping Centre, and the €150 million loan for a Dublin portfolio of 11 office and one residential building made in 2015, has resulted in Ireland becoming a notable part of our portfolio.”

Liffey Valley is one of Dublin’s leading regional malls, with over 100 shops, restaurants, a multiplex cinema, and 3,600 parking spaces.

Follow ACROSS

Download

fb-art 150

Share this article
Investment

Adjustment in pricing levels expected

According to Adam Pearce, Managing Partner at Kintyre, the currently inflated investment market for retail assets is not substantiated by the underlying trading environment for traditional brick-and-mortar retailers.

One transaction quickly follows the next

The European retail real estate industry was on a particularly intensive shopping spree over the last days and weeks.

Takeover-wave in the international shopping center industry

Hammerson, the British real estate group, rejected yet another takeover offer by the French Klépierre Group, as the industry in general seems to be particularly interested in mergers right now.

In times of disruptive markets, institutional real estate investors want to make sure that they are betting on the right horse

An exclusive ACROSS interview with Steffen Hofmann and Klaus Mennickheim, Managing Partners of iMallinvest Europe GmbH.

The new Union Investment Global Retail Attractiveness Index (GRAI)

Retail: Nuanced investment approach in a global upturn.

„Valuation is as much an art form as it is a science”

The challenges of valuating retail properties.