Friday 3 July 2020

Allianz backs ‘Europe’s largest’ wood office campus with €200m

Allianz Real Estate, the investment and asset manager arm of the financial services giant Allianz Group, has announced it will back the development of Europe's largest wood office campus with €200 million (£180m) of funding.

The project will consist of seven buildings, of which six will have private green spaces - the complex will cover more than nine hectares, offering 126,000 square metres of office and service areas.

The company says five of the seven buildings will be constructed primarily from cross-laminated timber and will meet 'the highest environmental standards'.

Roland Fuchs, Head of European Real Estate Financing for Allianz Real Estate, said: "This investment fully supports the global aspiration of the Allianz Group toward a carbon-neutral portfolio and showcases the strength of our European debt program and our relationships with prime sponsors and sector specialists.”

The 432 million (£389m) site is set for delivery in 2022.