NAMA “Project Eagle’ loans sale finalised

Nama has finalised the sale of its largest portfolio “Project Eagle’ loans to Cerberus Capital Management.

It said yesterday: “The portfolio, which has a par value of £4.5 billion (€5.6 billion) and represents the largest single transaction by Nama to date, relates to loans secured on assets in Northern Ireland and in other locations where the underlying properties are owned by Northern Ireland-based debtors.”

The deal, which largely consists of properties in the North, first emerged last month. Among the assets are the Lanyon Plaza and the Soloist buildings in Belfast, developed by William Ewart properties.