Nama is to bring five major portfolios of Irish property totalling €600m (£470m) to the market in the next three months.
The Irish agency has announced sales processes for two new portfolios of offices – one of which will include Facebook’s Dublin HQ – shopping centres, hotels and flats during the fourth quarter.
Speaking at a conference hosted by the Construction Industry Federation in Dublin, chief executive Brendan McDonagh, said: “We are witnessing continuing strong levels of interest in Irish assets among both domestic and international investors.
“The pipeline of sales we are announcing today will provide these investors with enhanced visibility of Nama’s disposal pipeline in the months ahead, in line with our commitment to bring portfolios with a minimum value of €250m to the market each quarter”.
The portfolios for sale will consist of:
Two portfolios of Dublin offices, one of which will include prime offices at 4-5 Grand Canal Square, where Facebook occupies 120,000 sq ft
One retail portfolio, comprising five regional shopping centres
One residential investment portfolio, comprising approximately 600 flats spread across seven locations in Dublin
One hotels portfolio, comprising a number of regional hotels
McDonagh also provided further details on Nama’s plans to facilitate the development of new office accommodation in the Dublin Docklands.
He said that the agency had completed a detailed business plan in respect of undeveloped land in the Docklands SDZ, securing its loans, and that initial strategies had been prepared for the 13 individual sites in which it has an interest.
Nama has an exposure to 75% of the undeveloped land within the SDZ.
bridget.o’connell@estatesgazette.com
