German insurer Allianz has sold a portfolio of 190 office properties to the Whitehall Funds for EUR 1.7 bn. The move is in line with Allianz's strategy to rebalance its real estate portfolio and follows the sale of a tranche of properties worth some EUR 1.3 bn to IVG in August 2007. A spokesman for the insurer declined to say if the company would book a gain from the sale of the buildings, all of which are located in Germany.
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