and Allianz have supported Partners Group鈥檚 office development project in London with 拢100m (鈧�116m) financing.
The debt finance is being provided towards the development of 80 Fenchurch Street, a 14-storey landmark building for the City of London, owned by funds managed and funds advised by Partners Group.
The financing has been structured as a 拢135m development loan with a 拢20m increase upon completion.
The real estate investment arm of the German insurer and TH Real will provide 拢50m (32%) each.
The financing is the first loan in Allianz Real Estate鈥檚 Enhanced Debt Programme, which involves the firm expanding its debt lending activity to provide stretched senior and junior financings with loan-to-value of up to 75%.
Christian Janssen, the head of European debt at TH Real, said: 鈥淭H Real Estate, through its own extensive in-house commercial real estate investment, development and financing expertise, have structured an innovative facility that provides the operational flexibility and financial certainty required by Partners Group.鈥�
Roland Fuchs, the head of European debt at Allianz Real Estate. 鈥淭he development exemplifies this approach, seeing us work alongside world-class partners to finance the construction of a truly first-rate asset in the heart of the City of London.
鈥漈his also marks our third investment in London within the last 18 months as the city becomes an increasingly important part of our global portfolio.鈥�
