Property-firm Development Securities has completed a deal to grab the so-called 'Chrome Portfolio' from NAMA - the body tasked with flogging the assets of the state owned Irish banks.
The £103m deal, in which Development Securities is a minority partner with Pears Group, will see the two firms acquire several central London properties, worth around £65m.
The remainder of the portfolio includes several neighbourhood retail schemes "anchored" by Tesco convenience stores.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Development Securities is becoming a regular customer for NAMA having already picked up the Wick Lane Wharf development in Hackney Wick in April.
BS
-
Christmas at Chatsworth: review of The Cavendish Hotel at BaslowMoneyWeek Travel Matthew Partridge gets into the festive spirit at The Cavendish Hotel at Baslow and the Christmas market at Chatsworth
-
Tycoon Truong My Lan on death row over world’s biggest bank fraudProperty tycoon Truong My Lan has been found guilty of a corruption scandal that dwarfs Malaysia’s 1MDB fraud and Sam Bankman-Fried’s crypto scam
