Tuesday 23 January 2018

Eastdil hired for Dundrum sale

The loans tied to Dundrum Town centre are likely to sell this year
The loans tied to Dundrum Town centre are likely to sell this year

Neill Callanan and Joe Brennan

Nama has hired Eastdil Secured to sell loans linked to the country's largest shopping mall and two other retail centres in Dublin.

The loans may sell for more than €1.4bn.

The loans are secured by the Dundrum Town Centre, a 150,000 square-meter (1.6 million sq-ft) mall, and 50pc stakes in the Ilac Centre and the Pavilions shopping mall. The properties are owned by developer Joe O'Reilly's Chartered Land.

The shopping centre's tenants generate a retail income of €50m a year, meaning its new owners can expect a return of around 5pc a year. Opened in 2005, it has an annual footfall of 19 million.

Sunday Indo Business

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