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Ballymore Properties exit Nama

Roscommon born property developer Sean Mulryan’s Ballymore Properties group has exited Nama.

In a note to employees before Christmas, the Oran native said the property group exited Nama on December 21st, having made a final debt repayment and having satisfied its obligations under its so-called Connection Management Agreement with the agency. report that Ballymore had paid back “significant borrowings” to RBS, KBC and other institutions, to bring its total group debt repayment to about €4 billion.

“We have also managed to retain one of the best development land banks in London, a significant land bank in Ireland, a significant property investment portfolio and have successfully grown our development management and construction management businesses in London, Birmingham and Dublin,” Mr Mulryan added.

You can read the full report here

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