Allianz now lending in Spain as well

Back to news summary 20/02/2015

Allianz Real Estate has advanced Merlin Properties a €133.6mn loan to finance the "Marineda Shopping Center" in La Coruna, Spain. With a rental area of 196,000 sqm and 6,000 parking spaces, it is the second-largest shopping center in Spain and was opened in 2011 as part of the "Marineda City" shopping and leisure center. The loan is Allianz Real Estate's first transaction in Spain. Helmut Mühlhofer, the head of Debt and Capital Markets at Allianz Real Estate, said this shows "that the Spanish real estate market is becoming increasingly interesting for institutional investors like Allianz."