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Austria's CA Immo sees Tower 185 sale this year
March 20, 2013 / 9:43 AM / 5 years ago

Austria's CA Immo sees Tower 185 sale this year

VIENNA, March 20 (Reuters) - Austrian property group CA Immobilien expects the sale of 75 percent of its Frankfurt high-rise office block Tower 185 to take place this year, it said on Wednesday.

Development chief Bernhard Hansen told a news conference the current book value of Tower 185 was about 500 million euros ($644 million), but that figure might change on a sale, which could take place in the second or third quarter.

CA Immo reported 2012 results late on Tuesday that were broadly in line with market estimates. ($1 = 0.7760 euros) (Reporting by Angelika Gruber; Writing by Georgina Prodhan; Editing by David Holmes)

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