Wednesday April 8, 2020

Cairn Homes, Lone Star to buy Project Clear loans for €503 million

Cairn will pay €378 million for its share of the loan portfolio

7th December, 2015
Cairn says the acquisition will allow it to build more than 14,000 new homes in the greater Dublin Area

Cairn Homes said it has made a successful bid, along with US private equity firm Lone Star, to acquire Project Clear, a portfolio of residential land loans owned by Ulster Bank, for a price of €503 million.

Cairn said it would pay €378 million for its 75 per cent share of the portfolio, which includes loans with a par value of around €2 billion attached to 1,694 acres, including 31 residential development sites. More than...

Subscribe from just €1 for the first month!

Exclusive offers:

All Digital Access + eReader

Trial

€1

Unlimited Access for 1 Month

Then €19.99 a month after the offer period.

Get basic
*New subscribers only
You can cancel any time.

Annual

€200

€149 For the 1st Year

Unlimited Access for 1 Year

You can cancel any time.

Quarterly

€55

€42

90 Day Pass

You can cancel any time.

Team Pass

Get a Business Account for you and your team

Related Stories

Every time Donald Trump spoke on the Covid-19 crisis last week, the stock markets plunged by another point

Marion McKeone | 3 weeks ago

Big tech firms pledge to pay contract staff through the social-distancing period

Emmet Ryan | 3 weeks ago

Further action may be needed to prevent the Irish economy being sunk, particularly when the global economy remains vulnerable

Ian Guider | 3 weeks ago