First-round bids in for Nama’s Project Abbey

The portfolio, which is known as Project Abbey, is being sold by Nama.

10th April, 2016
Pat Doherty was the developer of the Titanic quarter in Belfast

The €300 million race for loans connected to Pat Doherty’s Harcourt Developments is heating up after first-round bids were submitted last Monday.

Sources said that billion-euro private equity funds Apollo, Starwood and Davidson Kempner have all submitted bids for the loans, which have a par value of around €700 million. Industry sources said the variety of assets included in the loan sale had complicated matters for many prospective bidders.

The portfolio, which is...

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