Remaining NAMA ghost estates to be completed this year

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NAMA has said that all of the ghost estates that it has exposure to will be resolved by the end of this year.

In its annual review published today, the asset management agency, set up after the banking and property sector collapse, said that of the 332 estates it had on its books in 2010, only 47 remain to be resolved.

However, it believes it will have completed these by the end of this year.

The report also revealed that NAMA has redeemed almost three quarters of the senior debt it issued in 2010 to fund its operations.

The agency redeemed €5.5 billion in senior bonds last year, bringing to €22.1 billion the amount of senior debt it has recovered to date.

NAMA generated €9.1 billion in cash in 2015, of which €8.5 billion was accounted for by loan and asset sales.

It brings total cash generation to date to €32.7 billion.

NAMA held cash and cash equivalent balances of €3.4 billion at the end of 2015.

The post Remaining NAMA ghost estates to be completed this year appeared first on MyHome.ie Advice & Blog.

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