O'Callaghan Properties welcomes sale of €300m loans

The long-anticipated sale by Nama of €300m in property portfolio loans, associated with a number of O’Callaghan Properties (OCP) assets in Cork, has been welcomed by the company itself as “very positive” and could bring fresh and further investor activity to the city.

Included in the assets covered by the six loans held by an O’Callaghan Properties associated company — and being sold by Nama under the monicker ‘Project Lee’ — are:

- A significant portion of the Opera Lane development in Cork city centre, spanning retail units and overhead apartments;