Berlin-based IMW Immobilien said it is negotiating the sale of a EUR 230 mln portfolio after it unveiled a loss of EUR 160-170 mln in the year running to end-March 2009. The loss compares to a profit of EUR 32 mln a year before. The company said it is negotiating the sale of the assets with a number of investors in a bid to improve its financial situation. Management is convinced it will close the negotiations successfully in the next weeks, it added.
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