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Elliott NPL portfolio

Times Building, Dublin 2, Ireland

Elliott NPL portfolio
Ireland - Office, Retail and PRS

  • This single-connection loan portfolio was acquired off market in September 2014 for €75.5m and comprised 13 real estate loans, secured by 17 properties and with a UPB of €216.1m. The portfolio primarily comprises offices, industrial, retail and residential assets.
  • The business plan was to take direct ownership of the three largest assets comprising 90% of the value. To date, we have employed our Asset via Loan (AVL) strategy and have taken title to two of those assets.
  • We acquired the Times Building, a 73,400 sq ft primarily Grade A office building, with retail on ground, in Dublin 2 in June 2015. The Irish Aviation Authority now occupies the entire 51,300 sq ft of offices on a long-term, upwards-only lease. Lease-up of the vacant retail units has commenced.
  • Lakeland Retail Park, an 83,000 sq ft retail warehouse park in County Cavan was then acquired in September 2015. The principal tenants include Halfords, Woodies and Heatons. We undertook numerous value-enhancing asset management initiatives at the property .




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Herberton residential units, Dublin 8, Ireland

Herberton residential units, Dublin 8, Ireland, part of the Elliott NPL portfolio

Lakeland Retail Park, County Cavan, Ireland

Lakeland Retail Park, County Cavan, Ireland