DUBLIN, September 23, 2014 /PRNewswire/ --
Munich-headquartered global financial services group, Allianz, has committed to invest €140 million in IPUT, the investment vehicle of choice for commercial real estate in Ireland. IPUT funds under management now total €1.2 billion, primarily invested in prime large scale commercial office and retail properties located in Dublin's Central Business District.
Commenting, Allianz Chief Investment Officer Charles Pridgeon, said: "As the economic recovery in Ireland takes hold, supporting improving demand particularly in the domestic economy, we see the potential for strong long term income returns at attractive levels for our stakeholders. IPUT's long term investment strategy and approach coincides with our own and we are looking forward to an ongoing and mutually beneficial relationship in the interests of our respective stakeholders."
Commenting, IPUT plc CEO Niall Gaffney said: "We are delighted that Allianz has chosen IPUT to partner on its first investment in real estate in Ireland. It is very encouraging that global groups of the standing of Allianz are selecting IPUT as their investment fund of choice in this market.
It also supports our corporate strategy to diversify IPUT's shareholder base from pure Irish domestic pension funds to a broader audience of international institutional investors."
Mr. Gaffney added: "This Allianz investment now brings the total investment funds under management by IPUT to €1.2 billion which is in line with our projections for 2014. This investment in IPUT coincides with a period when interesting opportunities of institutional-grade quality are starting to materialise in the Irish market. As long term investors, IPUT will continue to take a pragmatic and strategic approach to the opportunities we pursue."
About IPUT - IPUT is the property vehicle of choice for Ireland. IPUT invests in Irish commercial properties with strong growth prospects and actively manages these properties to deliver superior income returns for our shareholders. IPUT funds under management total €1.2 billion. Net income return for the 12 months to 30 June 2014 was 6.21%. Annualised total return for the same period was +27.2%. IPUT is the IPD European Property Investment Awards Winner for Ireland in 2011, 2012, 2013 and 2014. To learn more about IPUT, see http://www.iput.com
About Allianz Real Estate - Allianz Real Estate is the strategic centre of expertise in real estate within the Allianz Group and a leading international real estate investment and asset manager. Allianz Real Estate develops and executes worldwide tailored portfolio and investment strategies on behalf of the Allianz companies, considering direct as well as indirect investments and real estate loans. The operational management of investments and assets is currently performed in six international subsidiaries and hubs in Germany, France, Switzerland, Italy, USA and Asia/Pacific. The headquarters of Allianz Real Estate are located in Munich and Paris. As of 31st December 2013 Allianz Real Estate has approximately €30 bn assets under management.
Issued on behalf of IPUT plc by FTI Consulting
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