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Deutsche Bank pays €145m for €400m Project Spring portfolio

Deutsche Bank has won a portfolio of €400 million worth of property loans linked to the developer Gerry Conlan from the National Asset Management Agency (Nama).

Project Spring includes loans secured on several prominent buildings in Dublin city, including several attractive redevelopment opportunities. It includes loans attached to an office block on Wilton Terrace near Leeson Street bridge, the Central Hotel on Exchequer Street, the Newhall Retail Park in Kildare, prime London city offices, and a development site near Britta’s Bay in Wicklow. Project Spring’s annual rent is circa €8m.

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