Nama to sell €300m loans belonging to O’Callaghan

Nama is selling loans with a value of €300m belonging to Cork property developer Owen O’Callaghan, reports claim.

The loans relate to a number of properties in the Cork region, including the Mahon Retail Park; a city centre retail development in Opera Lane and a number of properties in Half Moon Street, according to the Sunday Independent.

They are performing, with 95% of the underlying properties rented out to tenants, according to the report. In a statement the developer said he views Nama’s decision to put the loan portfolio on the market “very positively”.