First wave of Cerberus assets come to market
By Gary McDonald Business Editor
PRIVATE investment fund Cerberus, which earlier this year snapped up Nama's loan portfolio in Northern Ireland for just over £1 billion, has put its first wave of assets on to the open market.
Nine properties have gone on sale, including the Waterside Crescent Business Park in Derry and a number of small business units in the Coleraine area, which between them expect to fetch in the region of £5 million.
In April the National Assets Management Agency (Nama) struck a deal with international investment firm Cerberus Capital Management in New York to take over a package of loans linked solely to assets and developments in Northern Ireland which had formed part of the Project Eagle package.