Five retail parks in Dublin and around the country have been put on the market with an asking price in the region of €162m.
The so-called "National Portfolio" is being sold by Savills and JLL's John Moran on the instructions of Bank of Ireland.
The portfolio covers Nutgrove Retail Park in Dublin, Tullamore Retail Park in Offaly, Sligo Retail Park, Deerpark Retail Park in Killarney, and Sligo Retail Park.
The Nutgrove Retail Park being sold is separate to another retail park with the same name bought by Development Securities earlier this month.
The portfolio is being offered in three lots.
Nutgrove Retail Park is priced at €62m, while the four regional parks can be had for €100m. The entire lot is being offered for €162m.
With 1.1m square feet of floor space, the portfolio is the biggest retail property to come to market since the property crash.
The portfolio is producing a gross income in the region of €12.2m per year.
That would put the net initial yield at 7.3pc. Nutgrove Retail Park on its own would produce a yield of 6.33pc.
Nutgrove was opened in 2007, and the 195,000 sq ft centre produces more than €4m in annual rents.
The centre is fully occupied but more than three-quarters of the rent comes from only three tenants: Homebase, Harvey Norman and Aldi.
While that over-reliance on a small number of tenants may worry potential buyers, the weighted average lease term is 13.9 years.
The sale of the regional retail parks will be closely watched.
Last week a number of private equity investors told a property conference in London that they had doubts about the strength of the Irish market outside Dublin.
Simon Coyle of Mazars is receiver to Nutgrove and the Killarney park, while KPMG is the receiver for the three other centres. Letterkenny is the largest shopping property in the regional portfolio with 38 tenants across about 380,000 sq ft of space.
It is currently producing a rental income of €3.1m a year.
The sale of the five retail parks come as Nama and Irish firm BHL prepares to sell a UK shopping centre.
According to CoStar News, the state bad bank and BHL are seeking £50m for the Pentagon Centre in Chatham, Kent.
That is a huge discount on the £93m BHL, a joint venture between Davy Private Clients and property developer Duignan & McCarthy, paid for the centre in February 2007.
Since then Nama and BHL have been working on various strategies for the centre.