Image: Hines
Investment

Allianz finances Liffey Valley in Dublin

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
Sign up for our ACROSS Newsletter. Subscribe to ACROSS Magazine.

Investment MORE

MPC Properties buys Delta City shopping center in Belgrade

MPC Properties acquired Delta City shopping center (open since 2007), expanding its portfolio to five regional retail assets with the latest, BEO Shopping Center opening in June 2020.

Defama buys two retail properties for €4.4 million in Cologne and near Dortmund

Deutsche Fachmarkt AG (Defama) has purchased two properties in North Rhine-Westphalia: a retail park near Dortmund and a REWE store in Cologne-Rondorf.

Bradford AM buys retail park in France for €35.5 million from Commerz Real

Commerz Real has sold the Orange les Vignes retail park in southern France to Bradford Asset Management for €35.5 million for its RPCI fund. It had been in the portfolio of the Hausinvest open-ended real estate fund since its completion in 2010.

UK-based Evolve acquires retail parade in Coulby Newham

Evolve Estates Ltd has added a new retail parade to its portfolio through acquiring Parkway Shopping Center in Middlesbrough.

Ingka Centers plans first IKEA anchored meeting place in India

Ingka Centers revealed plans for a major new IKEA anchored mixed-use development in Gurugram, a city southwest of New Delhi, in the state of Haryana.

LCP expands retail portfolio with Russel Street Retail Park acquisition in Darlington

LCP has added a Darlington (UK) retail park to its portfolio, situated on St Cuthberts Way ring road, which is close to the town center, for £1.8 million.