Ruth Coppinger (Dublin West, Anti-Austerity Alliance)
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132. To ask the Minister for Finance the number of residential properties involved in sales of properties and loans by NAMA to vulture funds and REITs each year since 2010, in tabular form. [4324/17]

Michael Noonan (Limerick City, Fine Gael)
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As the Deputy has used a pejorative and undefinable term for potential purchasers, and due to the fact that providing the identity of specific purchasers would be commercially sensitive, my reply is based on all sales irrespective of purchaser.

I am advised that, in its capacity as a secured lender, NAMA has approved the sale of 14,246 residential properties by its debtors and receivers. This includes 4,708 new houses and apartments, which were funded by NAMA, in the three years to end-2016.

NAMA also advises that it has sold loans secured by 6,195 residential properties. In the case of loan sales, the underlying property is not sold.  The property remains in the ownership and management of the original owner or, in the case of enforcement, the appointed insolvency practitioner.

The breakdown sought by the Deputy is outlined in the following table.

Residential Unit Sales by Year

I am advised that a number of multi-unit portfolio sales are included in the above, namely; the Orange portfolio, Rockbrook, the Plum portfolio, Tallaght Cross West and St Edmunds. NAMA advise that properties which were sold as part of these portfolios were typically already tenanted and vacant possession was not sought prior to the sales. Such portfolios are typically acquired by investors seeking long-term rental streams and, therefore, existing tenancy arrangements tend not to be affected by such sales.

Ruth Coppinger (Dublin West, Anti-Austerity Alliance)
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133. To ask the Minister for Finance if he will provide a list of apartment blocks involved in sales of properties and loans by NAMA to vulture funds and REITs. [4325/17]

Michael Noonan (Limerick City, Fine Gael)
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As the Deputy has used a pejorative and undefinable term for purchasers, and due to the fact that identifying properties associated with individual purchasers would be commercially sensitive, my reply is based on all sales irrespective of purchaser.

I am advised that NAMA is prohibited by law from disclosing confidential debtor information, including information on assets owned by debtors, without debtors' consent. It is not possible to identify particular assets which secure NAMA loans as to do so would identify the owners as NAMA debtors and NAMA is precluded from doing so by the NAMA Act 2009 and by the requirements of banking confidentiality. 

Accordingly, the information in the following table is confined to large portfolio sales of residential properties which were launched by NAMA and for which the debtors have already given their consent to public disclosure of the assets concerned.

I am advised that almost all of the apartments in the various developments were let to tenants at the time of sale completion and that existing tenants were unaffected by the sales.