US investors Lone Star, Kennedy Wilson and Davidson Kempner, along with Bank of Ireland, will buy the Ulster Bank's €1.2bn Project Achill bad loans, according to the Irish Independent.
US investors Lone Star, Kennedy Wilson and Davidson Kempner, along with Bank of Ireland, will buy the Ulster Bank's €1.2bn Project Achill bad loans, according to the Irish Independent.
Properties covered by the loans include Dublin's Blackrock Business Park, 200 homes in Tyrrellstown, offices and apartments in Belfast's Titanic Quarter and shops on Prince's Street in Edinburgh.
The loans are being sold in several tranches, and reports suggest that Lone Star has secured tranche A for €400 mln: a discount of €150 mln.
