Belfast Telegraph

Northern Ireland portfolio of 500 homes bought by US hedge fund

By John Mulgrew

A US hedge fund has reportedly bought a £55m portfolio of more than 500 Northern Ireland residential properties.

Davidson Kempner has finalised a deal to take over Project Lanyon, according to CoStar News.

Earlier this year, it was revealed by commercial property firm Lisney that Project Lanyon - a scheme launched by Bank of Ireland - included 500 residential properties with offers in the region of £55m.

It then said it was "sale agreed".

It's understood the portfolio garnered interest from across the UK, and internationally.

And it's not the first time Davidson Kempner has been linked to Northern Ireland property.

Earlier this year Titanic Island and its subsidiaries faced a change in its finance arrangements when around £64m in loans it had taken out with Ulster Bank were sold to Davidson Kempner as part of Project Achill.

It is now banking with Davidson Kempner-linked company Burlington Loan Management.

Belfast Telegraph