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Anglo Irish narrows field of portfolio bidders

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Half of the bidders in the war over Anglo Irish’s $9.5 billion U.S. real estate portfolio are now out of the race, the Wall Street Journal reported, including TPG Capital, which was once considered a front-runner.
While several of the firms are vying for specific parts of the portfolio, which is being marketed by Eastdil Secured and includes both performing and non-performing loans, others such as a Blackstone Group partnership, a partnership which includes LNR Property and Lone Star Funds are looking to bag the whole lot.
Others that made it to the second round include Colony Capital, H/2 Capital Partners and Area Property Partners.
The portfolio includes a loan on the Apthorp building at 390 West End Avenue.
Second-round bids are due next week, with Anglo slated to choose a winner by September. [WSJ]

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Anglo Irish BankBlackstone GroupTPG Capital