Nama considers sale of shopping centre loans

Ireland’s National Asset Management Agency (Nama) is weighing up the sale of loans linked to Ireland’s largest shopping mall and two other retail centres in Dublin, sources said.

The loans are for the Dundrum Town Centre, a 150,000 square-metre (1.6m square-foot) mall in south Dublin, and 50% stakes in the Pavilions shopping center in Swords and the Ilac Centre in the city centre. The Dundrum mall is said to be worth about €1bn.

Irish investors, including Nama, are selling properties and loans to take advantage of rising investor interest. More than €21bn of property loans were sold last year, broker CBRE Group said in a report yesterday.