MUNICH & NEW YORK--(BUSINESS WIRE)--Allianz Real Estate, the $72.3 billion real estate investment and asset manager of the Allianz Group, has appointed Michael Cale as Co-Head of Debt Investments and Karen Horstmann as Head of Equity Acquisitions. Both roles will focus on the company’s US business and report to Christoph Donner, CEO of Allianz Real Estate of America.
Bringing 18 years of expertise and joining the company in July, Michael will be based in Atlanta and lead the national Origination Team to cover Atlanta, New York and Los Angeles. Alongside him, his Co-Head Mike Krawiec will focus on underwriting and structuring, overall portfolio allocation and investor management for the $13 billion Commercial Real Estate Loan business. Michael comes to Allianz from Voya Investment Management where he held the position of Senior VP, Head of Capital Markets.
In September 2019, Allianz Real Estate will also welcome Karen Horstmann to lead the Equity Acquisitions team from the New York office. Karen will join the team shortly after the announcement of Allianz Real Estate’s second acquisition in New York’s leading development, Hudson Yards. She brings with her 20 years of experience in global real estate, most recently holding a position at Norge’s Bank Real Estate Management in New York.
Since the beginning of 2018, Allianz Real Estate has deployed $2.4 billion of commercial debt financing and $1.5 billion in equity deals in the United States. High profile debt deals include 200 Occidental in Seattle, the BDO Industrial Portfolio in Ogden, UT and the Promenade at Downey in the Los Angeles metropolitan area. Alongside these properties, the company has announced the acquisitions of a number of high-quality buildings: 30 Hudson Yards, the Terminal Stores and 1515 Broadway in New York, San Francisco’s Ferry Building and 53 State Street in Boston.
“Allianz is committed to growing its portfolio in North America and both Karen and Michael will play key roles in the accomplishment of this growth plan,” said Christoph Donner, CEO for Allianz Real Estate of America. “Our European investors are looking to diversify their equity portfolios through further investment in the United States’ abundant 24/7 gateway cities. Karen’s strategic experience with fiduciary based European investors places her in an ideal position to lead and grow our Equity Acquisition team.”
Donner continued, “Additionally, our US investors have tasked us to continue growing our debt book by deploying approximately $2 billion each year and to explore further opportunities that fit their risk and return profile. We look forward to combining Michael’s proven accomplishments and expertise with Allianz Real Estate’s 30 year strong commercial financing track record.”
About Allianz
The Allianz Group is one of the world's leading insurers and asset managers with more than 92 million retail and corporate customers. Allianz customers benefit from a broad range of personal and corporate insurance services, ranging from property, life and health insurance to assistance services to credit insurance and global business insurance. Allianz is one of the world’s largest investors, managing around $755 billion on behalf of its insurance customers. Furthermore, our asset managers PIMCO and Allianz Global Investors manage more than $1.5 trillion of third-party assets. Thanks to our systematic integration of ecological and social criteria in our business processes and investment decisions, we hold the leading position for insurers in the Dow Jones Sustainability Index. In 2018, over 142,000 employees in more than 80 countries achieved total revenues of $147 billion and an operating profit of $12.9 billion for the group.
About Allianz Real Estate
Allianz Real Estate is the strategic real estate organization 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 5 regions, West Europe (Belgium, France, Italy, Luxembourg, Portugal, Spain), North & Central Europe (Austria, CEE, Germany, Ireland, Nordics), Switzerland, USA and Asia Pacific. The headquarters of Allianz Real Estate are located in Munich and Paris. Allianz Real Estate has approximately $71.2 billion assets under management.
Please note: Allianz Real Estate, 31/12/18 up to 30/06/18, data published included all commercial equity and debt real estate investments of the Allianz Group. With effect from 31/12/18, AUM aligned to Allianz Real Estate includes the portfolio overseen by Allianz Real Estate GMBH and its affiliates and excludes those managed by other parts of the Allianz Group.
These assessments are, as always, subject to the disclaimer provided below.
