Anglo Irish Bank may sell its entire $10 billion portfolio of US commercial property loans as early as this month at a discount to face value, the Wall Street Journal reported, citing people familiar with the deal.
The move comes as the Government has been pressing its banking system to reduce loans outside of Ireland, the paper said.
In February, the National Asset Management Agency said that it will commence an auction process for the sale of the deposits and assets of Anglo Irish.
The property portfolio includes assets like the Mandarin Oriental hotel in Boston, loans on the Apthorp condominium conversion project in New York and the Palmer House Hilton in Chicago, the paper said today.
