Allianz Group grants financing to Icade for 20 years

Munich, 06/30/2016

Allianz Real Estate France signed an amendment to the financing of "Pont de Flandre" business park. The property is located in the 19th arrondissement of Paris, representing 81,000 sqm of office area, spread over a 5-hectares-park and totals 10 office buildings.

The borrower and owner of the buildings is Icade, a listed real estate subsidiary of the state-owned Group Caisse des Dépôts.

This loan is provided by two French insurance companies of Allianz, Allianz Vie and Allianz IARD. The amendment extends the remaining term of the loan by 20 years and increases the total amount up to 225 million euros. This financing was arranged by Crédit Agricole Corporate & Investment Bank.

As stated by Carole Tran Van Lieu, Head of Commercial Real Estate Lending at Allianz Real Estate France: "This 20-year financing gives us the opportunity to strenghten our collaboration with Icade, a leading real estate player on the French market".

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