Investment giant goes shopping

€120m for six ex-Nama retail centres

Athlone Town Centre is one of six shopping centres bought by Davidson Kempner.Picture: Maxwells

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 ...