Nama sells €47m Ritz-Carlton debt to US investor

Nama has checked out of the Ritz: the state agency has sold its €47 million debt in the Ritz-Carlton Powerscourt hotel in Enniskerry, Co Wicklow, to Ranieri Real Estate.

Ian Kehoe - avatar

Ian Kehoe

24th February, 2013
Ritz-Carlton Powerscourt: Ranieri Real Estate is in pole position to take control.

Nama has checked out of the Ritz: the state agency has sold its €47 million debt in the Ritz-Carlton Powerscourt hotel in Enniskerry, Co Wicklow, to Ranieri Real Estate, the US property investment company.

The move places the company in pole position to take control of the hotel, which went into liquidation last week after failing to navigate a 100-day examinership period.

Ranieri is now funding day-to-day operations at the €200 million Powerscourt property, as...

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