and Los Angeles-based Oaktree Capital look set to have their investment in the landmark North Dock office scheme in’s north docklands wiped out, with initial bids for the property falling hopelessly short of the €130 million being sought by CBRE on behalf of receivers.
The bidders are said by market sources to have included Eamon Waters’s investment and property development company, Sretaw PE, Hines, developer Pat Crean’s Marlet Property Group, BCP, Orion Capital Managers, Lugus Capital and Patron Capital. Oaktree has a 60 per cent equity stake in North Dock while Nama holds the remaining 40 per cent. Bennett Construction was the design-and-build contractor for the scheme.
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