Ireland’s NAMA Closes Deal with Consortium Led by Starwood Capital
Ireland’s National Asset Management Agency (NAMA) has sold a portfolio of Irish commercial property loans to a new joint venture. The joint venture is 80% owned by a consortium of private investors led by Starwood Capital Group and the rest by NAMA. Other consortium members include Key Capital Real Estate and Catalyst Capital.
The loan portfolio backs 30 office and retail properties. It was sold for around €200 million, 25% of its original value of €800 million. NAMA provided a senior secured vendor finance loan to the joint venture.[ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]
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