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20/03/2014
Capita Assest Services Preferred NAMA Bidder
Capita Asset Services (Ireland) has been chosen as the preferred bidder to provide primary and special services on the National Asset Management Agency's (NAMA) portfolio of commercial property loans.
Certus has previously been selected as the preferred bidder in July 2013, with a portfolio of commercial property loans estimated to have a value of €20bn.
However, based on sales to date by the Special Liquidators and on the level of investor interest in the other IBRC portfolios, NAMA has been advised that the volume of commercial property loans could be substantially less than initially envisaged, with a large proportion of those being debtors with smaller debt exposures.
Given the fundamental changes to the size and characteristics of the commercial property loan portfolio, NAMA decided in January to launch a new tender process.
(MH/JP)
Certus has previously been selected as the preferred bidder in July 2013, with a portfolio of commercial property loans estimated to have a value of €20bn.
However, based on sales to date by the Special Liquidators and on the level of investor interest in the other IBRC portfolios, NAMA has been advised that the volume of commercial property loans could be substantially less than initially envisaged, with a large proportion of those being debtors with smaller debt exposures.
Given the fundamental changes to the size and characteristics of the commercial property loan portfolio, NAMA decided in January to launch a new tender process.
(MH/JP)
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