Category Archives: NAMA

Cerberus beats Apollo to win Project Arrow for around €800m

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Cerberus Capital Management has won the last major NAMA non-performing loan portfolio of the year, Project Arrow, believed to be paying around €800m for the pool of Irish real estate loans. NAMA confirmed Cerberus’ selection as the preferred bidder today … Continue reading

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More than half a trillion of European real estate loans to be sold in coming years

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Banks and asset management agencies (AMA) collectively still have more than half a trillion in unwanted legacy commercial real estate loans across Europe which they are expected to wind-down and sell over the coming years, a new report shows. C&W … Continue reading

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NAMA defends Project Eagle sale process at PAC hearing

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NAMA chairman Frank Daly defended claims this morning by Sinn Féin’s Mary Lou McDonald at the Irish Parliament’s Public Accounts Committee (PAC) that the sale process of the Project Eagle Northern Ireland loan portfolio was corrupted and lacked competitive tension. … Continue reading

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NAMA awards Hammerson and Allianz exclusivity on Project Jewel (updated)

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Hammerson and Allianz Real Estate last night signed exclusivity to acquire the Project Jewel loan portfolio from NAMA for €1.85bn, anchored by Ireland’s largest shopping centre, the 1.5m sq ft Dundrum Town Centre. The 50:50 joint venture partners’ €1.85bn price … Continue reading

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NAMA receives three binding bids for Dundrum shopping centre last night

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NAMA received binding bids last night from the reduced three finalists for €2.4bn Project Jewel loan portfolio, which includes the bad bank’s centerpiece commercial property – the 1.3m sq ft Dundrum Town Centre. CoStar News has learned that the original … Continue reading

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NAMA launches sale of €115m Hazel provincial Irish retail portfolio

NAMA has launched the sale of a provincial shopping centre and two retail parks, formerly owned by separate investors and developers, dubbed the Hazel portfolio, and is seeking offers in excess of €115m. The Hazel portfolio is split in terms … Continue reading

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NAMA narrows €7.2bn Project Arrow search to three

NAMA has narrowed the field to three finalists for the €7.2bn Project Arrow non-performing loan portfolio, in a trade expected to price below €1bn. CarVal Investors and Goldman Sachs are again jointly in the final stage of an Irish NPL … Continue reading

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Deutsche Bank wins NAMA’s Project Arch for €164m

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Deutsche Bank has won NAMA’s €608m Project Arch non-performing loan portfolio paying €164m, CoStar News has learned. The price suggests a discount of 73% based on the original principal balance. NAMA has completed a busy week after defining a final … Continue reading

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Battle for Dundrum Town Centre narrows to five

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NAMA has selected a five-strong shortlist for its €2.4bn Project Jewel loan portfolio, as the battle for the 1.3m sq ft Dundrum Town Centre narrows to five. Allianz Real Estate, Hines, Hammerson, Davidson Kempner and Colony Capital are all believed … Continue reading

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