Austria's CA Immobilien sells most of Tower 185 project
VIENNA Oct 1 (Reuters) - Austrian real estate group CA Immobilien has agreed to sell two thirds of its Tower 185 project in Frankfurt to German pension funds, it said on Tuesday, completing a partial divestment of its largest property.
"Two German pension institutions are each to acquire one third of the Frankfurt office property, which has a market value of around 0.5 billion euros ($676.83 million)," it said in a statement without identifying the buyers. CA Immobilien keeps the remaining third.
The company said that it had also agreed a long-term 300 million euro mortgage loan for the property with the Bayerische Versorgungskammer public pension fund. ($1 = 0.7387 euros) (Reporting by Michael Shields; Editing by David Goodman)