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IPUT closes deal for Carrickmines

Investment firm IPUT has teamed up with US firm Marathon Asset Management to buy the Carrickmines Retail Park.

IPUT had originally offered just under €80m for Carrickmines, which was being sold by NAMA but the state bad bank then declined to sell the property indivdually. Instead, NAMA decided to put it on the market as part of the Parks Portfolio which included four other parks from around the country,

Marathon's final bid for all off the partks came in at €157m - nearly €50m above the €110m asking price.

In its final, successful tender Marathon apparently nominated IPUT to take Carrickmines at face value as part of its overall bid for the entire portfolio. IPUT is thought to have valued Carrickmines at €90m.

Indo Business