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CA Immo refinances loan used to buy Budapest office property

Property developer CA Immo has refinanced a loan used to purchase a 24,000sqm office building in the city centre, CA IMMO Real Estate Management Hungary told MTI.

CA Immo acquired the City Gate office building when it bought the portfolio of Europolis last year. The building was collateralised against a loan from Deutsche Pfandbriefbank. CA Immo has refinanced the outstanding €27m of the loan from the German bank with the Austrian unit of UniCredit Bank.