Smart Building Evolution: PIMCO’s Digital Transformation in Madrid

The future of real estate: Madrid’s digital transformation at PIMCO in Spain

PIMCO, formerly known as “Allianz Real Estate” or “Allianz RE”, the internal investment and asset manager for real estate within the Allianz Group and later merged with a US group, is a pioneer in creating customized investment strategies. With a focus on direct and indirect equity globally and commercial real estate loans, PIMCO, with the support of FORTÉ and GPA, has also established itself as a pioneer in the smart building industry.

The task

Part of their progressive strategy is to drive forward the digital transformation of real estate and the use of smart building technologies. Their goal? To create buildings that meet the needs of tomorrow’s office occupiers while attracting talented tenants. At the same time, PIMCO is committed to achieving its decarbonization goals – an important step for one of the world’s largest real estate investment companies.

The stakeholders

The second aspect of the project was the level of IT infrastructure required for implementation, a fundamental aspect to the success of the installation. PIMCO required a separate data analytics platform for each stakeholder group:

• Investors: Data on CO2 and potential risks fromstranded assets effects
• Asset manager: Notifications about potential problems with occupancy or possible delays in response from the property manager when processing tickets or optimizing HVAC (heating, ventilation, air conditioning)
• Tenants: Data on occupancy, productivity and air quality within their rooms
• Users: Digital app that connects them with the retail offerings in the building and surrounding activities

More importantly, GPA needed to balance the complexity of the client’s vision and scope with third parties. It was paramount that the client’s expectations were clearly defined and delivery outcomes agreed, as this project would form the blueprint for potential future global rollouts.

The solution for PIMCO

The key to the success of this project was the appointment of a central GPA project manager. By utilizing the proven GPA processes and openly sharing experiences with local experts and the client, an efficient solution was developed for all future PIMCO building upgrades.

PIMCO’s expertise was enhanced through the use of smart engineering, intelligent services and effective data asset management. With the expert advice of Arne van Delft from Deerns on smart building and the active support of the GPA regional offices in Spain and Germany, through ICAP Global and FORTÉ , this ambitious project was successfully implemented.

A perfect example of this is the Paseo de la Castellana building in Madrid. This mixed-use building with multiple tenants, retail stores and a young tenant demographic was the ideal candidate for a smart upgrade.

The result for Madrid

“GPA has worked proactively to close information gaps and report quickly on delays and potential hurdles,” praised Michele Bruno, Head of Special Projects – PIMCO.

The successful installation of this smart workplace technology has significantly improved the knowledge of smart building equipment in all GPA offices worldwide. The valuable insights gained and the culture of open information sharing have proven to be a real benefit for PIMCO and other global clients planning to integrate smart workplace technologies into their office spaces.