Allianz Real Estate, acting on behalf of several Allianz group companies, has provided £140m ($195m) in debt funding to Canary Wharf Group (CWG) for the financing of a mixed-use development in London’s Canary Wharf.
The 10-year, fixed-rate loan – structured with an initial 7-year term then three possible 1-year extensions – marks Allianz Real Estate’s first single-asset private rental sector debt transaction in Europe.
The loan also meets all the necessary Loan Market Association requirements to be classified as a green loan.