Apollo comes out on top in Harcourt Nama auction

Sale price for Project Abbey is thought to have been some €300 million

7th August, 2016
Pat Doherty, Chairman of Harcourt Developments

‘Vulture’ fund Apollo has emerged as the winning bidder for Nama loans attached to Harcourt Developments, the property company founded by Donegal developer Pat Doherty, according to industry sources.

The sale price for Project Abbey is thought to have been some €300 million, for a book whose face value is €700 million.

Other bidders included Starwood and Davidson Kempner, in a process that has run through several rounds since April.

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