The National Asset Management Agency is preparing to sell about €300m of Irish property loans as demand from overseas buyers rises, three people with knowledge of the plan said.
This is according to reports on Bloomberg today.
The loans are linked to properties built by Dublin-based developer McGarrell Reilly Group and they will be sold at a discount, according to the people, who declined to be identified.
International investors have been buying property and loans backing real estate in Dublin as returns rebound following the country's property crash.
Overseas investors bought about 70% of the €545m of income-producing property sold in Ireland last year, compared with little or none in 2007, according to CBRE Group.
McGarrell Reilly's developments include The Watermarque office building near Google's European headquarters and the Iveagh Court office complex in Dublin's central business district.
