Ireland’s NAMA to Publish Receivership Properties for Sale Today

Ireland’s National Asset Management Agency, the country’s so-called bad bank, will publish today a list of about 850 properties it has seized through the appointment of receivers and now has available for sale, a spokesman for the agency said.

“We will publish on our website details of the various properties for sale through the receivership process,” said Ray Gordon, the NAMA spokesman, by telephone. “We expect about 850 properties will be identified,” he said. Receivership is when a lender seizes assets to recover amounts due.

NAMA was established by the Irish state in 2009 to take over most of the country’s lenders’ risky commercial real-estate loans. It has acquired 72.3 billion euros of loans ($104 billion) at an average discount of 58 percent of face value from five banks.

To contact the reporter on this story: Joe Brennan in Dublin at jbrennan29@bloomberg.net

To contact the editor responsible for this story: Edward Evans at eevans3@bloomberg.net

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