RBS acquires Project Aran for €1.38 billion
Royal Bank of Scotland Group, Ulster Bank’s parent company, has announced this morning that Cerberus has paid €1.38bn for the Project Aran, comprising of approximately 1,300 borrower groups, over 6,200 loans with around 5,400 properties, which had an unpaid loan balance of €5.6bn and gross liabilities of €6bn.
Docklands Strategic Development Zone (SDZ) for the City is launched
Dublin City Council will officially launch The North Lotts and Grand Canal Dock Planning Scheme on Wednesday 10th December at 11am at the Dublin Docklands Development Authority Offices at Custom House Quay, Dublin 1. The publication marks the beginning of a new process of implementation of the Docklands Strategic Development Zone (SDZ) Scheme for the City, and a new era of investment and development in the Docklands area.
Consumers to spend almost €4 billion over Christmas
Irish shops are bracing themselves for their best Christmas since the nadir of the economic collapse, with a new report suggesting consumers are set to spend €4 billion between now and the new year.
REIT secures €150m to expand property portfolio
The Irish Residential Properties (I-RES) REIT has agreed a deal with the Canadian Apartment Properties Real Estate Investment Trust (CAPREIT) that will provide it with an additional €150m in acquisition funding which is to be used for expanding its portfolio of high-quality properties.
Donegal shopping centre put on the block
The centre is for sale by private treaty from Joint selling agents Bannon and Bundoran-based Sean Meehan & Co. The shopping centre is located right in the town centre and features significant amounts of on-site parking. It includes an anchor store of 734.3 sq.m and twelve retail units over two levels comprising 649 sq.m.
Five provincial shopping centres on sale for €50m
Five relatively small provincial shopping centre are to be offered for sale on the instructions of Nama labelled “The Harvest Portfolio”. Joint agents Bannon and Lisney are to seek in excess of €50 million for the grocery-led centres in Dungarvan, Thurles, Mullingar, Navan and Cashel which are to be sold in a single lot.
