Varde Partners has emerged as the winner of Nama’s Project Acorn with a bid of more than €170m (£135.7m) – 30% above the asking price.
The regional shopping centre portfolio, first tipped by Estates Gazette in April , comprises the Showgrounds, Clonmell; Blackpool Shopping Centre, Cork; and Millfield, Ballbrigging, Co Dublin, which is anchored by Ireland’s largest Tesco store.
The three shopping centres cover a total of 675,000 sq ft and have an annual rent roll of €13m.
Varde Partners beat a joint bid from Burlington Real Estate and US hedge fund Davidson Kempner, plus Kennedy Wilson and Kildare Partners to buy Project Acorn.
JLL and Bannons acted as agents.
sophia.furber@estatesgazette.com
