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Across the Irish Sea, speculation has swept through the commercial property market that NAMA has pulled its next non-performing loan (NPL) portfolio, €235m Project Club, “amid general concerns that borrowers are teaming up with potential buyers which is undermining the … Continue reading
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NAMA has confirmed the sale of the €810m Project Aspen to a Starwood Capital-led consortium structured with just under 60% vendor finance over five years and in a Project Isobel-esq joint venture structure. Starwood Capital’s three-strong consortium – which also … Continue reading
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Starwood Capital has won NAMA’s €810m Project Aspen Irish commercial property non-performing loan (NPL) portfolio and is expected to pay less than €200m, in both the first major loan portfolio sale by Ireland’s bad bank and the private equity firm’s … Continue reading
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Starwood Capital and PIMCO submitted final bids last week for NAMA’s €810m Project Aspen pricing the Irish non-performing loan (NPL) below €190m, which would reflect at least a 76.5% discount. Project Aspen is comprised of 30 commercial property loans which … Continue reading
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Competition for National Asset Management Agency largest yet non-performing loan (NPL) portfolio, the €810m Project Aspen, is expected to be strong, as private equity funds seek to gain a foothold in Dublin’s ever-so gradually improving prime office and retail markets. … Continue reading
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KPMG Ireland has been appointed as special liquidator over “zombie bank” IBRC to accelerate the wind-up of the bank’s loan book which includes €18.7bn in predominantly non-performing UK and Irish commercial property loans. Ireland’s parliament the Dáil passed emergency legislation … Continue reading
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Northwood Investors has bought the out-of-the-money €85m junior loan securing the €270.41m-valued Dublin offices portfolio formerly owned by Treasury Holdings subsidiary Real Estate Opportunities from NAMA, CoStar News can reveal. Northwood beat competition from a six-strong group of finalists including … Continue reading
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Royal Bank of Scotland has sold an out-of-the-money circa £140m mezzanine loan secured by Glenn Maud’s Citi Tower in Canary Wharf to Orchid Capital, an Australian and German listed equity investor, for a nominal fee, CoStar News has learned. Orchid … Continue reading
