JPMorgan, Wells Fargo final bidders for Anglo Irish property loans

New York /
Aug.August 25, 2011 03:21 PM

JPMorgan Chase and Wells Fargo are two of the banks among the final candidates that bid for parts of $9.65 billion in
U.S. property loans owned by Anglo Irish Bank
, Bloomberg News
reported. The lenders are interested in acquiring pieces of the $4.52
billion of performing loans. Investor groups led by private-equity
firms Blackstone Group, together with Deutsche Bank, and Lone
Star Funds also submitted offers for parts of the portfolio, which
includes $5.13 billion of subperforming and non-performing debt,
according to Bloomberg News. Anglo Irish aims to sell off its loans
after it was seized by the Irish government in January 2009 during a
surge in souring debt.

The offering includes loans backed buildings
from Manhattan — including the Apthorp at 390 West End Avenue — to Beverly Hills, Calif. The competition shows the
appetite for real estate loans by private-equity firms and banks
looking to grow their assets even though the global economic
recovery appears to be stalling, according to Bloomberg. A winner is
expected to be chosen by early next week, after Anglo Irish’s board of
directors discusses the final bids at a meeting today. [Bloomberg] 


Related Articles

arrow_forward_ios
Nelson Management’s Robert Nelson with the Promenade Nelson Apartments and Lafayette Boynton Apartments (Nelson Management)
Nelson Management eyes $200M for Bronx apartments
Nelson Management eyes $200M for Bronx apartments
JP Morgan Chase CEO Jamie Dimon (Getty Images, iStock)
JPMorgan Chase adds to mortgage industry layoffs
JPMorgan Chase adds to mortgage industry layoffs
Taconic's Charles Bendit and Paul Pariser with rendering of One Essex Crossing (Taconic Partners, VMI Studio)
Essex Crossing developers land $466M refi
Essex Crossing developers land $466M refi
Marc Ladreit de Lacharriere and 693 Fifth Avenue (Google Maps, MEDEF, CC BY-SA 2.0/via Wikimedia Commons, iStock)
Battle rages for $100M settlement to Valentino’s Fifth Ave. landlord
Battle rages for $100M settlement to Valentino’s Fifth Ave. landlord
JPMC CEO Jamie Diamon and rendering of new Park Avenue HQ (DBOX / Foster + Partners, Getty Images, Illustration by Kevin Cifuentes for The Real Deal)
JPMorgan Chase reveals HQ plans after nod to remote work
JPMorgan Chase reveals HQ plans after nod to remote work
JPMorgan Chase CEO Jamie Dimon and a rendering of 270 Park Avenue (Getty, ATCHAIN)
Jamie Dimon to work-from-homers: You win
Jamie Dimon to work-from-homers: You win
National work-at-home experiment finds many unwilling to return to offices
National work-at-home experiment finds many unwilling to return to offices
National work-at-home experiment finds many unwilling to return to offices
Christian Sewing, chief executive officer, Deutsche Bank, in front of 1 Columbus Circle (Getty Images, OptimumPx, Public domain, via Wikimedia Commons/Photo Illustration by Steven Dilakian for The Real Deal)
Deutsche Bank delays $1.5B CMBS deal tied to HQ
Deutsche Bank delays $1.5B CMBS deal tied to HQ
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...