Investment giant goes shopping
€120m for six ex-Nama retail centres
US global investment giant Davidson Kempner has bought a portfolio of six regional
shopping centres for just under €120 million.
The portfolio of loans, known as Project Cornerstone, had all been originated by AIB
and had been valued at upwards of €400 million during the boom. However, the loans were
all eventually put in receivership and sold by JLL for Grant Thornton, who were acting
as receivers.
The Project Cornerstone properties were spread ...