Illustrative examples of transactions

Project Lennon (UK and Italy)

Investment Description

  • In November 2014 Invel acquired in an off-market transaction a portfolio of non-performing loans totalling c. £140m of unpaid principal balance along with the shares of the borrower entities from the National Asset Management Agency of Ireland (“NAMA”).
    – This acquisition was conducted in cooperation with Capital & Provident Management Ltd, the borrower.
    – The loans were acquired at a significant discount to face value.
  • The underlying assets of the loans included:
    – an existing building frame, a land plot and some ground rents located on 4/5 South Quay, Canary Wharf (London) that total c. 420,000 square feet of gross buildable area.
    – a 155,000 net square foot class A office building and 14 residential units located at 20 Chapel Street (Liverpool). The office building is leased to very reputable tenants including Liverpool Football Club, Barclays Bank and Ernst & Young.