[30 second version – CoStar, the UK commercial property portal, has this afternoon reported that NAMA has sold the €85m face-value mezzanine loan which had been advanced to Treasury Holdings’ Opera fund which in turn controls Merchants Quay shopping centre in Cork, an office block on Mespil Road in Dublin, Stillorgan shopping centre, South Bank House and “The Warehouse” buildings, both on Barrow Street. The buyer is US investor, Northwood. The purchase price is not disclosed but said to be “in single digits in the euro” and the purchase may place Northwood in a commanding position with respect to the control of the property portfolio]
The outworking of Treasury Holdings property dealings continues apace, with exclusive news today from James Wallace at the UK’s commercial property portal, CoStar, that NAMA has sold €85m of face-value loans associated with the Opera fund, to US investor Northwood.
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