Le mie ricette per la real estate communityAllianz Real Estate, one of the world’s largest real estate investment managers, has seen its global logistics portfolio grow to EUR 11.6 billion in assets under management as at the end of 2021, up 32% year-on-year. The firm’s logistics exposure comprises EUR 8.6 billion in equity investment, an increase of 39% year-on-year, and EUR 3 billion in financing, up 15%. Regionally, the firm’s portfolio split is EUR 5.8 billion in Europe, EUR 3.3 billion in the U.S. and EUR 2.5 in Asia Pacific.
In April 2021, Allianz Real Estate announced one of the most significant ESG programs in the real estate industry, with an aim to reduce the carbon footprint of its global portfolio by 25% by 2025 and net zero by 2050.
The firm therefore intensified its decarbonization efforts over 2021, engaging with tenants to obtain energy consumption data and working closely with developers to ensure all assets contribute to the transition towards a low-carbon economy. Initiatives include the incorporation of energy efficient improvements such as solar panels and the provision of e-truck charging infrastructure.
In March, for instance, the firm acquired a EUR 72 million newly built, last-mile logistics facility single-tenanted by Amazon in the south of Vienna. The first part of an active asset management program focused on sustainability is the installation of photovoltaic panels as a means to increase the amount of energy derived from renewable sources.
During the year, Allianz Real Estate completed several high-profile transactions. In 2021, the firm grew its Italian logistics portfolio to more than EUR 500 million across 16 facilities, underscoring the region as a core growth market. Highlights included the acquisition of two logistics assets currently tenanted to a prime Italian tenant in Northern Italy.
In September, EUR 280 million in debt funding was provided to BentallGreenOak to support the development of a build-to-core portfolio of eight prime logistics assets in the UK – with the financing meeting the criteria to be classed as a green loan.
In December, Allianz and logistics specialist VGP agreed to form a new 50/50 joint venture, the fourth such venture between the two since 2016. It will develop a portfolio of 90 prime logistics assets in around 25 strategic locations in Germany, the Czech Republic, Hungary and Slovakia over a five-year period, with around 70% to be built in Germany.
Most recently, the firm announced the completion of a EUR 290 million develop-to-core logistics vehicle focused on Grade A speculative assets in the UK in partnership with sector specialist AEW. The forward acquisition of Frontier Park, a 760,000 sq ft logistics facility, marked the fourth acquisition for the venture since the partnership was announced in 2019.
Allianz Real Estate expects to further expand its logistics portfolio in 2022, ramping up its activity in Europe, the U.S. and in the fast-growing Asia-Pacific region, all of which are benefitting from strong tailwinds engendered by its significant adoption of e-commerce.
The acceleration of e-commerce, a structural trend that gained momentum as a result of the pandemic, is expected to remain for the long-term.
Source : Company