Deutsche Postbank is selling the bulk of its real estate, worth some EUR 700 - 800mln, in a sale-and-leaseback deal which would replicate the move announced by its owner, Deutsche Post, in April. Deutsche Postbank has hired investment bank Morgan Stanley to sell the Victor portfolio consisting of 25 office building located across Germany's largest cities, newspaper the Financial Times Deutschland reported. The portfolio does not include the company's retail banking outlets. The German retail bank aims to receive non-binding offers for the portfolio within the coming four to five weeks, the newspaper said.
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