Allianz and QUEST Investment Partners acquire Focus Teleport office complex in Berlin through new joint venture

Allianz and QUEST Investment Partners acquire Focus Teleport office complex in Berlin through new joint venture 150 150 QUEST Investment Partners

Allianz and QUEST Investment Partners acquire Focus Teleport office complex in Berlin through new joint venture

Munich, 16 July 2019. Allianz and QUEST Investment Partners have formed a new 50:50 joint venture to acquire Focus Teleport, a fully leased office complex in central Berlin which will be upgraded over time in line with Allianz Real Estate’s manage to core strategy.

In what is the second such partnership between them, Allianz Real Estate and real estate project devel­opment and investment company QUEST Investment Partners have acquired the building on behalf of several Allianz insurance companies. In July last year the two came together to purchase Überseehaus, an 11,300 sqm office and commercial building in Hamburg.

Focus Teleport, located in Berlin’s Alt-Moabit office hub next to the river Spree, covers nearly 30,000 sqm in space. The complex comprises nine partially inter­con­nected buildings with tenants including leading technology and media firms as well as public sector entities.

The Berlin office market has continued to expand in line with the city’s central role in the German and European economy. Berlin was ranked 4th in Allianz Real Estate’s inaugural Cities That Work office sector investment report in 2018 in terms of core strategies and 9th for value-add invest­ments.

“We are delighted to be expanding our exposure to the attractive and dynamic Berlin office sector through this manage to core oppor­tunity,” said Annette Kroeger, CEO of Allianz Real Estate for North & Central Europe. “We believe the market repre­sents excellent, long-term value on a selected basis, with Focus Teleport an example of an in-demand asset with strong growth prospects.”

“Focus Teleport repre­sents a truly exciting oppor­tunity to add signif­icant value through strategic redevel­opment, with substantial upside potential. We are delighted to be working with Allianz Real Estate again and look forward to further expanding our joint partnership-oriented investment strategy,” added Jan Rouven Künzel, Managing Partner of QUEST Investment Partners.

Allianz Real Estate and QUEST Investment Partners were advised by Jebens Mensching PartG mbB, Proper­tu­nities and Hansa Partner Rommel & Meyer, while Cushman & Wakefield acted as broker.

Allianz enquiries:

Allianz Real Estate
Phillip Lee
+49 89 3800 8234
Phillip.Lee@allianz.com

Citigate Dewe Rogerson (UK)
Oliver Parry / Hugh Fasken / Emma Maynard
+44 (0) 20 7025 6400
AllCDRUKAllianzRealEstate@citigatedewerogerson.com

Pressekontakt QUEST Investment Partners
Stefanie Rother
+49 160 972 88 057
rother@quest-investment.com

About Allianz

The Allianz Group is one of the world’s leading insurers and asset managers with more than 92 million retail and corporate customers. Allianz customers benefit from a broad range of personal and corporate insurance services, ranging from property, life and health insurance to assis­tance services to credit insurance and global business insurance. Allianz is one of the world’s largest investors, managing around 673 billion euros on behalf of its insurance customers. Furthermore, our asset managers PIMCO and Allianz Global Investors manage more than 1.4 trillion euros of third-party assets. Thanks to our systematic integration of ecological and social criteria in our business processes and investment decisions, we hold the leading position for insurers in the Dow Jones Sustain­ability Index. In 2018, over 142,000 employees in more than 80 countries achieved total revenues of 131 billion euros and an operating profit of 11.5 billion euros for the group.

About Allianz Real Estate

Allianz Real Estate is the dedicated real estate investment manager within the Allianz Group and has grown to become the world’s largest investor in real estate. The firm develops and executes worldwide tailored portfolio and investment strategies on behalf of a range of global liability driven investors, including Allianz companies, creating value for clients through direct as well as indirect invest­ments and real estate loans. Headquar­tered in Munich and Paris, the opera­tional management of invest­ments and assets is performed out of 19 offices in key gateway cities across 5 regions (West Europe, North & Central Europe, Switzerland, USA and Asia Pacific). As at 31 December 2018, Allianz Real Estate held 63.5 billion euros assets under management. For more infor­mation, please visit: http://www.allianz-realestate.com

About QUEST Investment Partners

QUEST Investment Partners is a real estate project devel­opment and investment company with offices in Hamburg and Berlin. QUEST focuses on invest­ments in commercial and residential properties with upside potential in top locations of major German cities. In retail devel­op­ments the focus is on good inner-city locations in German metro­politan regions. The QUEST team has extensive experience in the devel­opment of high-quality real estate projects and contin­u­ously aims at increasing the real estate values of its share­holders and investors. QUEST’s share­holders are the managing directors Theja Geyer and Jan Rouven Künzel as well as the investment holding company of the Hamburg entre­preneur Erck Rickmers who is invested in real estate, equity invest­ments and shipping.

These assess­ments are, as always, subject to the disclaimer provided below.

Cautionary note regarding forward-looking state­ments
This document includes forward-looking state­ments, such as prospects or expec­ta­tions, that are based on management’s current views and assump­tions and subject to known and unknown risks and uncer­tainties. Actual results, perfor­mance figures, or events may differ signif­i­cantly from those expressed or implied in such forward-looking state­ments. Devia­tions may arise due to changes in factors including, but not limited to, the following: (i) the general economic and compet­itive situation in the Allianz Group’s core business and core markets, (ii) the perfor­mance of financial markets (in particular market volatility, liquidity, and credit events), (iii) the frequency and severity of insured loss events, including those resulting from natural catastrophes, and the devel­opment of loss expenses, (iv) mortality and morbidity levels and trends, (v) persis­tency levels, (vi) partic­u­larly in the banking business, the extent of credit defaults, (vii) interest rate levels, (viii) currency exchange rates, most notably the EUR/USD exchange rate, (ix) changes in laws and regula­tions, including tax regula­tions, (x) the impact of acqui­si­tions including and related integration issues and reorga­ni­zation measures, and (xi) the general compet­itive condi­tions that, in each individual case, apply at a local, regional, national, and/or global level. Many of these changes can be exacer­bated by terrorist activ­ities.

No duty to update
The Allianz Group assumes no oblig­ation to update any infor­mation or forward-looking statement contained herein, save for any infor­mation we are required to disclose by law.

Other
The figures regarding the net assets, financial position and results of opera­tions have been prepared in conformity with Inter­na­tional Financial Reporting Standards. Infor­mation is based on prelim­inary figures. Final results for fiscal year 2018 will be released on March 8, 2019 (publi­cation of the Annual Report).

This is a trans­lation of the German Quarterly and Full Year Earnings Release of the Allianz Group. In case of any diver­gences, the German original is binding.

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