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Inside IBRC’s £1.46bn Project Salt
More than 30 separate first round bids were lodged last Friday for the first two IBRC property non-performing loan (NPL) portfolios, the £4.82bn Project Rock and the £1.46bn Project Salt, as KPMG pours...
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Inside Project Rock: the standalone hotel tranches
IBRC’s Project Rock standalone tranches comprise an outstanding debt of £2.2bn, more than half of which is within five of the 11 separate tranches, which are all secured by UK hotels. Project Rock’s...
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KPMG confirms all project Salt and Rock tranches progress to phase two...
KPMG has announced this afternoon that all tranches of projects Salt and Rock, with a combined unpaid balance of €7.3bn, have progressed to the second round phase, implying sufficient bids have been...
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KPMG secures CCMA servicing pledge from €1.8bn Project Sand finalists
KPMG, the special liquidators of IBRC, has sought to allay the anxieties of owners of legacy Irish Nationwide mortgages which have spun into the €1.8bn Project Sand loan portfolio that all final round...
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Lone Star and Sankaty/Canyon Capital win €7bn Project Rock and Salt in...
KPMG has confirmed this morning that the majority of the combined €7bn Project Rock and Salt have been won in separate trades to Lone Star and a consortium including Sankaty Advisors and Canyon Capital...
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Lone Star wins £5.2bn of IBRC’s Project Rock and Salt loans at above 30%...
Lone Star has won the entire two-tranche Project Salt and 12 of the 14-tranche Project Rock legacy IBRC commercial property loan books with a combined face value of just over £5.2bn for a discount to...
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Deutsche Bank leads winners of IBRC’s Project Stone
Deutsche Bank leads the winners of IBRC’s penultimate non-performing commercial property loan portfolio, Project Stone, with the spoils shared between three separate individual and consortium private...
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KPMG confirms Project Stone winners and announces Lone Star and Oaktree win...
KPMG’s Kieran Wallace and Eamonn Richardson, the special liquidators of IBRC, have just confirmed the completion of the sale of the majority of Project Stone and Project Sand, which takes the total...
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KPMG to re-sell remaining €1.9bn legacy IBRC loans in new sale process
IBRC’s special liquidators KPMG has confirmed today that a process is now underway to attempt to re-sell all the remaining unsold debt from projects Evergreen, Stone and Sand. KPMG will attempt to sell...
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Tristan Capital Partners wins Project Tree for £153m
Tristan Capital Partners has paid £153.15m to win the Project Tree portfolio out of receivership in a rapidly executed disposal process by KPMG and sales agent JLL. The Project Tree portfolio is...
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KPMG prepares fresh sales process for IBRC’s projects Amber, Quartz and Pearl
KPMG has repackaged all €2.4bn unsold IBRC predominantly non-performing loans (NPL) in three separate portfolios, dubbed projects Amber, Quartz and Pearl, in a set of fresh blind auction processes...
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Cerberus wins Netherlands-dominant Project Lucas NPL from Van Lanschot
Van Lanschot, the almost 300-year old independent bank in the Netherlands, has sold its first-ever non-performing commercial real estate loan portfolio to Cerberus Capital Management. Project Lucas,...
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Bank of Ireland’s National portfolio to trade above €162m after four bids...
Bank of Ireland received four second round bids yesterday afternoon for the National Portfolio, a five-strong Irish regional retail parks portfolio. CoStar News understands the four bids submitted...
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