AMB and Allianz Real Estate form €470m JV
AMB Property Corp and Allianz Real Estate have formed a Luxembourg-based joint venture with the aim of acquiring, owning and operating logistics real estate tied to global trade and located in major seaport, airport and distribution markets in the Eurozone. Allianz Real Estate’s initial equity commitment will be approximately €400 million and the joint venture’s overall equity commitment is €470 million (US$648m), including AMB’s 15% co-investment. The deal comes just a month after AMB Property and ProLogis agreed to merge the two companies. As at December 31st, 2010, AMB’s portfolio totalled more than 1.4 million square metres of operating and development properties in Europe, and almost 15 million square metres in fifteen countries around the world. Quelle: eyefortransport |