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...
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