Degi, the real estate investment arm of German insurer Allianz, has announced that its Grundwert open-ended fund is selling a commercial portfolio with a current market value of around EUR 2.45 bn to affiliates of the Whitehall Funds, real estate funds sponsored and managed by Goldman Sachs. Although the financial details of this transaction have not been disclosed, Degi said that the portfolio was sold 'for a price above market value.'
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