The National Asset Management Agency is understood to have has selected a shortlist of five for its €2.4bn Project Jewel loan portfolio, which includes loans relating to a number of Dublin shopping centres.
NAMA has narrowed the list of bidders for loans connected to the Dundrum Town Centre, half of the Ilac Shopping Centre in the city centre and half of the Pavillions in Swords.
It also includes loans connected to land near Dundrum Town Centre and a site on Dublin’s O’Connell St.
Bloomberg reports that the list includes US real-estate investment company Hines, shopping mall investor Hammerson, insurer Allianz, investment firm Colony Capital and hedge fund Davidson Kempner.
Hines and the Kuwait Investment Authority are understood to be bidding for the loans as a joint venture.
The sale price is expected to reach up to €1.7 billion, with the Dundrum loans reflecting the majority of the portfolio’s value.
