Posts tagged Anglo Irish Bank Corp
Wells Fargo & Co., JPMorgan Chase & Co. and Lone Star Funds acquire $9.65 Billion in U.S. Real Estate Loans
“JPMorgan Chase & Co., Wells Fargo & Co. and Lone Star Funds won the bidding for Anglo Irish Bank Corp.’s $9.65 billion portfolio of U.S. real estate loans, according to three people briefed on the auction’s results.” Bloomberg Businessweek reports.
Wells Fargo has decreased the amount of commercial property loans held by the next five largest commercial real estate lenders by $1.3 billion by paying about 80 cents on the dollar for the Anglo Irish Bank Corp.’s portfolio. It’s a risk but Wells Fargo has targeted portfolios that are performing loans and are not as likely to bring negative consequences compared to loans made during the peak of the fall.
The details have not yet been released to the public and this information comes from persons briefed on the auction results.
JPMorgan, Well, Lone Star Said to Win Anglo Irish U.S. Loans by Bloomberg Businessweek http://news.businessweek.com/article.asp?documentKey=1376-LQJTLQ0UQVI901-2IJCNHKC5G9CPTP7CDPT7B1KFA
Wells Fargo Jumps on Commercial Deals by The Wall Street Journal | Commercial Real Estate http://online.wsj.com/article/SB10001424053111903352704576540793407207006.html