Oireachtas Joint and Select Committees
Thursday, 29 September 2016
Public Accounts Committee
Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle
9:00 am
Mr. Frank Daly:
Let me follow through on one point because the Deputy has talked about the reasons people gave for exiting the process. It was not just a matter of process, accessing the data room or timing. Starwood, for example, gave three reasons. It referred to a lot of deals in progress and a concern that if it advanced with Project Eagle, it would be spread too thinly. In the absence of access to valuers, it did not have the internal resources required to price the portfolio. It was being selective regarding which major portfolios presenting an opportunity it would follow. Blackstone, for example, stated it was not particularly familiar with the Northern Ireland property market and did not typically invest in properties as small as-----
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