Cairn Homes has begun transferring loan assets from its recently acquired Project Clear portfolio into direct ownership.
Cairn has converted 15% of the portfolio, which was bought with Lone Star from Ulster Bank in December 2015, into direct ownership.
The sites acquired are a one-acre site in Stillorgan, Dublin, an eight-acre site at Cross Avenue, Blackrock also in Dublin, and a six-acre site at Moyglare in Maynooth.
The company has also added a site adjacent to Moyglare which it acquired from York Capital for €27m (£20m), which adds to the value of the overall site and will allow the development of 430 plots and a 500-bed student residence.
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