Bloomberg News

Ireland’s NAMA Sells Claridges, Berkeley Hotel Loans

September 29, 2011

Sept. 29 (Bloomberg) -- Ireland’s National Asset Management Agency sold loans associated with London hotels, Claridges, the Connaught and the Berkeley.

The agency sold the loans for in excess of 800 million euros, it said in a statement today. The loans were acquired by a company controlled by David and Frederick Barclay.

The loans had been provided by two Irish banks to fund the acquisition of the hotels in 2005, and were acquired by NAMA in June 2010.

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

To contact the editor responsible for this story: Dara Doyle at ddoyle1@bloomberg.net


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