Varde Partners is one of several parties that have been approached to buy Project Hyperion – a £500m chunk of Aviva Commercial Finance controlled property and debt that were once owned by the Noé family.
The talks come after the investor on Thursday exchanged contracts for the £240m Project Titan portfolio of properties, which formed the second tranche of assets sold off after 10 Noé family-controlled companies were placed in receivership in February this year.
The latest talks include a further eight trophy assets such as the Vicar Lane shopping centre in Chesterfield, alongside a significant debt package.
Project Titan, and its forerunner Project Tree, comprised secondary mixed use-properties.
APAM has been appointed by Varde to asset manage the properties.
Varde, advised by Allsop, secured project Titan ahead of competition from a Goldman Sachs-Square Metre Properties jv, a partnership between Apollo and M&M, and a bid fronted by Catalyst Capital.
It has agreed to pay around £240m for the 187 Titan assets.
KPMG was appointed administrative receiver the companies, which controlled the properties in February this year.
The companies, which included Landmaster Properties, owned a total of 339 mostly regional properties.
Tristan Capital Partners bought the Project Tree portfolio – the first portfolio of properties sold following the receivership – for £153.2m.
• Legal & General has gone under offer with a £220m bid for the prime multi-let Ocean portfolio – including the 1.7m sq ft Fradley Park – being sold by Lone Star’s Hudson Advisors.
JLL acted for KPMG and L&G;; DTZ receivers adviser the vendors on the Ocean portfolio.
