Stephen Donnelly (Wicklow, Independent)
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I refer to the sale at Sir John Rogerson's Quay. NAMA sold a property for €7.5 million and it was sold a year later in August 2014 for almost €18 million. Inevitably, when the agency is disposing of so many assets, people will be able to buy them and flip them at a profit. It would be unreasonable to expect that NAMA would never be caught out like that. However, was that an isolated incident? Did it kick off a review? How satisfied is NAMA that the prices it is obtaining are reasonable market prices, particularly given Mr. McDonagh said 89% of the purchases from the agency are being made by US funds? Some are here for the long haul but others have 12 to 36 month horizons and they buy assets with a view to a short-term capital gain. How concerned is Mr. McDonagh that there is a lot of this going on?