Allianz Real Estate

What Allianz Real Estate does

Allianz Real Estate, operating under the brand PIMCO Prime Real Estate, is a global Core and Core+ real estate investment specialist headquartered in Munich, Germany. The firm is a wholly-owned subsidiary within the PIMCO and Allianz group structure (parent chain: PIMCO Europe GmbH → Pacific Investment Management Company LLC → Allianz Asset Management of America LLC). It manages EUR 78.2 billion in total assets under management as of 31 December 2025, including the Allianz Group's real estate mandate — described as one of the world's largest real estate portfolios.

The firm's offering spans direct and indirect real estate equity investments across Europe, the United States, and Asia Pacific, alongside a senior commercial mortgage origination platform in Europe and the U.S. It invests through 16 offices and 450+ real estate professionals, targeting high-quality assets in primary locations diversified across major sectors and geographies. Recent execution includes prime office co-investments (e.g., Stonecutter in London with Ivanhoé Cambridge, achieving 93% pre-leasing), large-scale mixed-use redevelopments (e.g., NUGA Castellana in Madrid), and a logistics joint venture in India with ESR.

Revenue is generated primarily through management fees and performance fees on AUM, distributed exclusively to institutional clients via direct field-sales relationships. The go-to-market is enterprise/relationship-based, with the Allianz Group as both parent and largest client, supplemented by global institutional investors seeking Core/Core+ exposure. There is no proprietary technology stack disclosed, and pricing is not publicly disclosed for institutional mandates.

Name

Allianz Real Estate

Legal name

PIMCO Prime Real Estate GmbH

Website

https://allianz-realestate.com

Company type

Private

Founded year

2008

Operating status

Operating

Headcount range

11–50 employees

Short description

Allianz Real Estate (operating as PIMCO Prime Real Estate) is a global Core and Core+ real estate investment manager with EUR 78.2B AUM, serving Allianz Group and institutional investors via 16 offices across Europe, the U.S., and Asia Pacific through direct and indirect equity and senior mortgage origination.

Ownership category

akta.pro rank

Product category

Institutional Real Estate Investment Management

NAICS

Other Activities Related to Real Estate (531390), Offices of Real Estate Agents and Brokers (5312)

SIC

Investors, Nec (6799), Investment Advice (6282)

akta.pro primary industry

Real Estate Strategy & Portfolio Consulting (Corporate/Institutional) (BPAJANAB)

akta.pro secondary industries

Real Estate M&A / Joint Venture Advisory (Platform Deals, Partnerships) (BPAJANAF), Real Estate Advisory & Consulting (Strategy, Portfolio & Location) (FSAEAJAH)

Keywords

• Institutional real estate
• Investment management
• Commercial mortgage lending
• Core real estate strategy
• Real estate debt

Headquarters

HQ city

Muenchen

HQ country

Germany

HQ region

Europe

Offices11 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure

Revenue model

1. Real Estate Investment Management: Manages real estate assets for the Allianz Group and global institutional clients. Revenue likely derived from management fees and performance fees on assets under management.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels3 records

Core offering

Allianz Real Estate is an institutional real estate investment manager that invests in core and core+ real estate on behalf of the Allianz Group and third-party institutional investors. It offers direct and indirect equity investments across Europe, the United States, and Asia Pacific, and originates and manages senior commercial mortgages. The firm operates under PIMCO Prime Real Estate GmbH with EUR 78.2 billion in assets under management and more than 450 real estate professionals across 16 global offices.

Product overview

PIMCO Prime Real Estate operates as a global Core and Core+ real estate investment specialist managing EUR 78.2B in total assets under management. The firm offers direct and indirect real estate equity investments across Europe, the United States, and Asia Pacific, along with a lending business originating senior commercial mortgages in Europe and the United States. The platform also includes management of the Allianz Group's real estate mandate. The company executes investments through 16 offices worldwide and a team of 450+ real estate professionals, focusing on high-quality assets in primary locations diversified across major sectors and geographies.

Differentiator

Problem solved

Functional benefit

Products and services

• Direct Real Estate Equity Investments

Quantifiable outcome

• EUR 78.2B total assets under management
• +1 more outcomes

Named customers2 records

Segments1 record

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Three partnerships are on record, tiered core.

• ESRcoreStrategic or Co-development Partner · 20 October 2025ESR and Allianz Real Estate have a joint venture for logistics assets in India. Brookfield is bidding ₹5,000 crore to acquire assets from this JV and assets owned by ESR independently, representing the largest platform deal in India's logistics and warehousing sector.
• Ivanhoé CambridgecoreStrategic or Co-development Partner · 30 May 2025Joint investment in Stonecutter, a prime office space in London that achieved 93% pre-leasing at Practical Completion. Strategic co-investment partnership for prime commercial real estate assets.
• ECE Marketplaces GmbHcoreStrategic or Co-development Partner · 25 September 2024Joint ownership of Skyline Plaza in Frankfurt, which is undergoing a EUR 35M+ modernization program. ECE Marketplaces GmbH serves as the operating partner for this retail asset.

Scale indicators4 records

Recent moves5 records

Expansion highlights4 records

Direct peers

• Nuveen Real Estate: Global real estate investment platform of Nuveen (TIAA) managing institutional capital in core, core-plus, debt, and emerging strategies. Comparable as a large-scale institutional real estate manager with insurance-company parent capital backing similar to Allianz.
• AEW Capital Management: Global institutional real estate investment manager with core, core-plus, and value-add strategies across Europe, U.S., and Asia Pacific. Comparable as a focused institutional real estate manager competing for global mandates.
• CBRE Investment Management: Global real estate investment manager (formerly CBRE Global Investors) managing institutional capital across equity and debt strategies worldwide. Directly comparable as a similarly sized, institutionally-focused core/core+ real estate platform competing for the same global mandates.
• LaSalle Investment Management: Subsidiary of JLL focused on global real estate investment management across core, core-plus, value-add and debt strategies. Comparable as an institutional real estate asset manager with diversified global mandates and similar Core/Core+ focus.
• Principal Real Estate Investors: Real estate investment management arm of Principal Financial Group managing institutional capital across debt and equity strategies globally. Comparable as an insurance-parented institutional real estate manager with comparable global footprint.
• DWS Group (Real Estate): Global asset manager with a sizable institutional real estate investment business across Europe, U.S., and Asia Pacific. Directly comparable as a similarly structured institutional real estate investment manager with European roots and global mandates.
• PGIM Real Estate: Real estate investment business of Prudential Financial's PGIM, managing institutional debt and equity capital globally. Comparable as an insurance-parented institutional real estate manager offering both debt (mortgage origination) and equity strategies.

Broad incumbents

• Brookfield Asset Management: Global alternative asset manager with large real estate investment platform spanning equity, debt, and operating strategies. Comparable as a competing institutional real estate capital source — and notably the bidder for the India ESR-Allianz JV.
• BlackRock Real Estate: Real estate arm of BlackRock managing BREIT and institutional real estate funds globally. Comparable as a massive-scale institutional real estate investment platform offering direct, indirect equity, and debt strategies; broader asset manager parent provides similar capital and distribution advantages to Allianz/PIMCO.

Regional players

• Patrizia: European-headquartered real estate investment manager with growing global presence, focused on institutional and retail capital across multiple strategies. Comparable as a competing real estate investment manager with strong European roots and global ambitions.

Market position

Strengths4 records

Weaknesses2 records

Competitive moat5 records

Key risks5 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/22334751
• Xx.com/allianz_real

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Subsidiaries10 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Allianz Real Estate