Allianz Real Estate, the realty investment arm of German insurer Allianz, has appointed Danny Phuan as the Asia-Pacific head of acquisitions, according to an announcement.
In his new role, Phuan will be responsible for strengthening the firm’s presence and sprucing up acquisitions in the Asia-Pacific region. He will be based out of Singapore and report to Asia-Pacific CEO Rushabh Desai.
The appointment comes at a time when the firm is ramping up its operations in the region and looking to attain a target allocation of 10 per cent of its global real estate portfolio, it said in a statement. This year, Allianz Real Estate has clocked multiple strategic investments in the Asia-Pacific region.
Prior to Allianz Real Estate, Phuan was with Keppel Capital where he served as the chief investment officer North Asia & executive director. He brings with him over 25 years of experience in the real estate sector across Asian markets.
“The addition of Danny to our leadership team in Asia-Pacific comes at an opportune time as we continue to further our business expansion plans in this region,” said Rushabh Desai, Asia-Pacific CEO of Allianz Real Estate.
Allianz Real Estate manages EUR 67.1 billion real estate investments and assets of the Allianz Group. Headquartered in Munich and Paris, the operational management of investments and assets is performed out of 19 offices in key gateway cities across 5 regions (West Europe, North & Central Europe, Switzerland, US and Asia Pacific).
The realty investment arm of German insurer Allianz is expanding its franchise in the APAC region. Most recently, the firm and real estate-focused private equity fund Gaw Capital Partners have raised S$945 million ($697 million) green loan to finance its joint acquisition of office assets in Singapore, DUO Tower and DUO Galleria.
In October, Allianz Real Estate partnered with Alpha Investment Partners (Alpha), the private fund management arm of Singapore-based Keppel Capital to acquire a majority stake in a Grade A office complex in Beijing for S$1.3 billion ($948 million).
Earlier, the firm paid EUR1.1 billion ($1.20 billion) to acquire a portfolio of multi-family residential assets in Japan from Blackstone managed funds, marking the firm’s foray into the Japanese residential market.
In July, the firm and Gaw Capital Partners teamed up to acquire a premium grade-A office asset in Singapore for S$1.6 billion ($1.2 billion) from a joint venture between Malaysia’s Khazanah Nasional and Singapore’s Temasek.