Nama to put €600m of commercial property on market in Q4
Nama is bring five Irish property portfolios, with a combined value of approximately €600m, to the market in the last three months of this year.
The portfolios will comprise offices, shopping centres, hotels and apartments.
Nama has previously stated its intention to bring property portfolio sales with a minimum value of €250m to the market each quarter.
The portfolios for sale will consist of:
- Two portfolios of Dublin offices, one of which will include prime offices at 4-5 Grand Canal Square
- One retail portfolio, comprising five regional shopping centres
- One residential investment portfolio, comprising approximately 600 apartments spread across seven locations in Dublin
- One hotels portfolio, comprising a number of regional hotels
The announcement was made by Nama chief executive Brendan McDonagh at a conference hosted by the Construction Industry Federation (CIF) in Dublin today.
"We are witnessing continuing strong levels of interest in Irish assets among both domestic and international investors," he said.
"The pipeline of sales we are announcing today will provide these investors with enhanced visibility of NAMA’s disposal pipeline in the months ahead, in line with our commitment to bring portfolios with a minimum value of €250m to the market each quarter."
Mr McDonagh also provided further details on Nama’s plans to facilitate the development of new office accommodation in the Dublin Docklands.
He said that that agency had completed a detailed business plan in respect of undeveloped land in the Docklands SDZ securing its loans and that initial strategies had been prepared for the 13 individual sites in which it has an interest.
