HypoVereinsbank of Bavaria has sold a real estate portfolio of 86 properties to Vaerde Partners as part of HVB's strategic reorientation away from non-core activities. Nearly 60% of the 442,000 m[sup]2[/sup] commercial property portfolio consists of offices. Over 75% of the properties are in western Germany and Berlin. The financial details were not disclosed. HVB also announced it has sold EUR 960 mln worth of non-performing real estate loans to Goldman Sachs but it did not disclose the sales price.
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