Anglo Irish Bank is selling its complete $10 billion portfolio of U.S. commercial real-estate loans, The Wall Street Journal reports. The defunct Irish lender will sell its assets at a discount to face value.
The portfolio includes assets, such as the Mandarin Oriental hotel in Boston, loans on the Apthorp condominium conversion project in New York and the Palmer House Hilton in Chicago. The sale will take place by the end of June 2011.
Click here for the story from The Wall Street Journal.