Kennedy Wilson Europe and Deutsche Bank have bought a major part of Lloyds Irish commercial property non-performing loan portfolio, paying around €61 million.
The purchase price, for loans originally valued at around €360 million, reflects an 83 per cent discount on the banking group's portfolio of property, The joint venture equity bidders paid around 17 cents in the euro for the non-performing loans in a cash-only deal.
Project Prince - the name given by Lloyds to the...
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