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Colony Capital collects €450m Project Tolka

Colony Capital, the Los Angeles-based investment firm, has been selected by the National Asset Management Agency (NAMA) as the preferred bidder to acquire a loan portfolio for in the region of €450m, CoStar News understands.
By Chris Borland
December 20, 2016 | 8:00 P.M.

The loan book, dubbed Project Tolka, has a face value of 1.5bn, with the winning bid reflecting a circa 70% discount to par value. Colony, advised by HWBC, fought off rival bids from Madison International Realty and Lone Star, according to the Irish Independent.

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