Friday May 29, 2020

Deutsche Bank to buy Project Boyne

Deutsche Bank has agreed a deal with the National Asset Management Agency (Nama) to purchase Project Boyne, a €287 million loan portfolio, according to industry sources.

25th January, 2015

The German bank faced competition for the portfolio from Merrill Lynch, Oaktree Capital Management and Davidson Kempner Capital Management.

Deutsche will pay in the region of €95 million for the portfolio, which comprises loans secured by Meath-based property developer Willie Smyth, according to London property research firm CoStar.

Smyth and his associated companies have a portfolio of about 25 assets with debts to Nama. While the assets included in the deal have a rent roll...

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