M and A
Deals Of The Day: The Latest In Wealth Management M&A - Allianz
The latest M&A deals in wealth management.
Allianz Real Estate
Allianz
Real Estate has formed a joint venture to buy a Beijing
office complex valued at about €1.0 billion ($1.11 billion).
The organisation has teamed up with Alpha Asia Macro Trends Fund
III – a fund managed by Alpha Investment Partners, the private
fund management arm of Keppel Capital – to acquire an 85 per cent
interest in Ronsin Technology Center, an international grade A
office complex in Beijing’s Wangjing sub-district. The remaining
15 per cent interest will be retained by the seller, D&J
China. Allianz will have a 62 per cent share in the joint venture
and is also one of the investors in the fund.
The sale and purchase agreement as well as the joint venture
agreement have been executed, with the transaction expected to
close in Q4 2019. The asset will be jointly managed by Allianz
Real Estate, Alpha Investment Partners and D&J China.
Completed in March 2018, the Ronsin Technology Center comprises
six office towers and two retail podiums and has a total leasable
area of approximately 131,000 square miles. The asset is located
above the Laiguangying subway station in Beijing’s Wangjing
sub-district.
