Tag Archives: Project Stone

Goldman to crystallise Spencer Dock profit as Project Trinity second round bidders emerge and BoI sells €162m National Portfolio

Goldman Sachs, NAMA and Hines are selling their combined ownership of Spencer Dock’s Block R in the North Docklands with a guide price of €90m, amid a raft of live Irish direct property sales this summer. Goldman Sachs acquired a … Continue reading

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KPMG confirms Project Stone winners and announces Lone Star and Oaktree win majority of Project Sand

KPMG’s Kieran Wallace and Eamonn Richardson, the special liquidators of IBRC, have just confirmed the completion of the sale of the majority of Project Stone and Project Sand, which takes the total sales across the five NPL portfolios to €19.8bn … Continue reading

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Deutsche Bank leads winners of IBRC’s Project Stone

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Deutsche Bank leads the winners of IBRC’s penultimate non-performing commercial property loan portfolio, Project Stone, with the spoils shared between three separate individual and consortium private equity funds and investment bank winners. KPMG, the special liquidators of IBRC, has carved … Continue reading

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Lloyds readies Project Avon, IBRC’s Stone bids in, RBS’ Button bids due next Friday, NAMA receives Tower bids and readies Project Spring

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Lloyds Banking Group has launched one of its final UK non-performing loan portfolios, Project Avon, in the midst of the most active period for legacy commercial property de-leveraging in the last four years. By total unpaid loan balance, the £625m … Continue reading

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Royal Bank of Canada finances Lone Star’s Project Holly and 75 St Stephen’s Green

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Royal Bank of Canada (RBC) Capital Markets has financed Lone Star’s recent Project Holly Irish commercial real estate loan portfolio win from NAMA and a legacy RBS loan secured by and 75 St Stephen’s Green in Dublin with combined €210m … Continue reading

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Bidders emerge on legacy IBRC portfolios amid €27bn frenzy of live European property loan sales

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Europe’s real estate loan portfolio market has entered its most frenetic period as finalists emerge on the legacy IBRC portfolios, projects Salt and Rock, as private equity, hedge fund and investment banks pore over as much as €27.7bn in live … Continue reading

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KPMG confirms all project Salt and Rock tranches progress to phase two bidding stage

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KPMG has announced this afternoon that all tranches of projects Salt and Rock, with a combined unpaid balance of €7.3bn, have progressed to the second round phase, implying sufficient bids have been received at above or near to prescribed hurdle … Continue reading

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KPMG begins sales process for IBRC’s €22bn projects Rock, Sand, Evergreen and Stone

IBRC’s joint special liquidators, Kieran Wallace and Eamonn Richardson of KPMG Dublin, have confirmed details of four UK and Irish property loans portfolios, worth collectively €22bn, and known as project Rock, Sand, Evergreen and Stone. Project Evergreen: Irish originated corporate … Continue reading

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