Nama to finalise sale of O’Flynn loan portfolio

Nama will this week finalise its biggest asset sale to date — the Project Tower loan portfolio, connected with the Cork-based developer Michael O’Flynn.

Nama yesterday confirmed global investment firm Blackstone Real Estate as the buyer of the loan portfolio.

The investor had reportedly been involved in a three-way battle for the portfolio with US private equity house Lone Star and hedge fund manager Davidson Kempner.