Since the beginning of 2017, new equity investments totalled 7.2 billion euros, with 2.0 billion euros in direct, 2.0 billion euros in joint ventures and 3.2 billion euros in indirect investments. This included the recent addition of forward purchases in Europe and the firm's entrance into the China office market.

Examples of 2018 investments are the acquisition of ZLink in Beijing, the ATLAS office complex in Munich, the development of Monteburgos office site in Madrid, the Ueberseehaus - a commercial building in Hamburg, the Gangaren 11 office complex in Stockholm and the Chapter Student Housing Platform in London.

The total equity portfolio rose to 42.5 billion euros: 25.9 billion euros in direct, 6.4 billion euros through joint ventures and 10.1 billion euros in indirect investments. Indirect equity accounted for 17 percent of Allianz Real Estate's portfolio allocation as at the end of June 2018. To support recent growth in Austria and the CEE, the business opened an office in Vienna in March.

'We continue to manage our growth in a selective way,' said Olivier Téran, CIO of Allianz Real Estate. 'Our historic strength in the European office sector continues to be the bedrock of our portfolio, but we employ joint ventures and indirect investments to access value add and opportunistic investments across Europe, the U.S. and Asia alongside the direct equity ownership of core properties. Our unconstrained approach allows us to invest for the long term, providing our liability driven clients stable returns across the market cycle.'

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Allianz SE published this content on 10 October 2018 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 10 October 2018 10:22:06 UTC