Tag: dundrum town centre

NAMA consider two International bids for Dundrum Town Centre

Posted on | by Aisling Rafferty

Project Jewel, suitable named, is a portfolio of loans that include the most prized Retail assets in Ireland. Dundrum Town Centre, Pavilons Swords and the Ilac Shopping Centre are amongst the loans. Over the past week, The National Asset Management Agency has weighed up bids from two groups of International investors.

Both investors are waiting to hear from NAMA who the preferred bidder for the portfolio is. Project Jewel is expected to trade for approx. €1.6 million. The new owner will likely work with Joe O’Reilly and his company Chartered Land to manage and develop the assets.

The portfolio sale also includes 50 per cent stakes in both the Ilac and Pavilions shopping centres in Dublin, as well as a substantial site between O’Connell Street and Moore Street.

Source: http://www.irishtimes.com/business/commercial-property/nama-considers-two-international-bids-for-dundrum-centre-1.2367232

NAMA appoint Wells Fargo Bank to handle Dundrum town centre sale

Posted on | by pointblank_admin

Nama have appointed Eastdil Secured, a subsidiary of the Wells Fargo Bank to handle the sale of the most expensive real asset asset in Ireland, Dundrum Town Centre. The €1 billion loan sale will also cover a number of other properties, with 50% stakes in the successful Pavillions Shopping Centre in Swords and The Ilac Centre on Dublins Henry Street.

Confidence continues to increase that Dundrum, seen as the crown jewel in the Nama portfolio, will attract interest from several sovereign wealth funds as well as some of the largest institutional investors. The loans are due to go on the market towards the end of next month, with first bids due in early August.

Dundrum Town Centre opened in 2005 and covers about 1.34 million sq ft with more than 100 shops, 40-plus restaurants, cinemas, a theatre, and 3,400 car park spaces

Source: http://www.irishtimes.com/business/commercial-property/nama-appoints-wells-fargo-subsidiary-to-handle-dundrum-sale-1.2220191