MSREI to acquire UK loan portfolio from NAMA

Morgan Stanley Real Estate Investing (MSREI) announced the acquisition on Friday of a portfolio of loans in the UK from National Asset Management Agency (NAMA).

The portfolio is secured on a number of real estate assets located across the UK, with a particular concentration in London and Manchester, and consists of a mixture of income producing assets and development sites. Although terms of the transaction were not disclosed, press reports put the size of the deal at around £65 mln (EUR 78 mln), reflecting a 70% discount to face value.

'We are pleased to be at the forefront in acquiring loan portfolios from NAMA, and we look forward to generating value for our investors,' said Brian Niles, head of MSREI EMEA.

Morgan Stanley Real Estate Investing (MSREI) is the global real estate investment management arm of Morgan Stanley.