In June 2021, Allianz Real Estate acquired its first private rented sector portfolio in Spain: 421 upscale residential units spread across 21 properties in central locations in Madrid and Barcelona. Allianz Real Estate announced its ESG program at the beginning of 2021. It aims to reduce the company’s carbon footprint by 25 percent by 2025 and fully decarbonize the company’s global portfolio by 2050.

In the leadup to the client’s acquisition decision, a Drees & Sommer team examined technical, environmental and digital aspects of the properties.

The experts from Barcelona and Stuttgart succeeded in undertaking a detailed analysis of the portfolio in the agreed timeframe. The consultants also identified innovative refurbishment solutions that could be implemented sustainably, for example a tool for planning upcoming remediation of the facade and building services equipment.