Nama sells Gannon’s London portfolio for €120m

British property investment firm Development Securities has formally announced its intention to acquire assets from Nama believed to be developer Gerry Gannon’s property portfolio in Britain.

Nama is selling the £100m (€120m) Chrome Portfolio of residential/retail properties through Savills.

Development Securities’ announcement follows a report in Property Week that it had, along with William Pears Investments, jointly purchased the portfolio.