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Irish Banks Scramble to Dump US Property Biz

NEW YORK CITY-Amid the ongoing Irish debt crisis, the Bank of Ireland and Anglo Irish Bank Corp. have both retained high-power real estate intermediaries to help get rid of their respective US CRE loans.

By Carl Gaines | Updated on June 08, 2011

NEW YORK CITY-The Bank of Ireland and Anglo Irish Bank Corp. are both looking to get rid of their US property businesses as part of deleveraging necessitated by the ongoing debt crisis in Ireland.

The Bank of Ireland has retained Holliday Fenoglio Fowler to advise on the sale of its US property business, centered in New York, Boston and Washington, DC and worth approximately $1.5 billion. According to a spokesperson for the bank, the move is part of ongoing deleveraging brought about by the crisis in Ireland.

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