Announced
Financials
Sources
Tags
Private
Joint Venture
Single Bidder
Real Estate Holding and Development
Pending
Singapore
Private Equity
real estate development
Majority
Friendly
Synopsis
Allianz Real Estate, the real estate investment and asset manager of the Allianz Group, and The National Pension Service of Korea, a public pension fund, agreed to form a joint venture to build a diversified core portfolio of high-quality properties in the Asia Pacific region. Financial terms were not disclosed. "This is a significant step forward in our ambition of bringing like-minded third-party investors to invest alongside Allianz. We view this as the beginning of a scalable partnership between NPS and Allianz, two highly respected long-term institutional real estate investors. We are incredibly proud of Rushabh Desai and our Asia-Pacific team for successfully raising our first third-party equity fund," François Trausch, Allianz Real Estate CEO.
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