A PricewaterhouseCoopers (PwC) pension fund is currently in talks to purchase a stake in a Frankfurt skyscraper, a source close to the negotiations told Reuters. This deal, if successful, would be one of Europe's biggest property deals of the year. The source, however, did not confirm the size of the stake under discussion or how close the deal was to conclusion.
On Tuesday, Austrian developer CA Immo confirmed that it was in talks with one bidder to sell a stake in the 200-meter Tower 185. This is part of a plan to reduce its debt by EUR600 million within the year. PwC is the building's biggest tenant.
In March, the Vienna-based company said that Germany's fourth-tallest skyscraper was worth approximately EUR500 million. It had hoped to sell a 75% stake, which represents a deal of about EUR375 million.
CA Immo and PwC declined to comment on the matter.
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