Blackstone named as purchaser of Project Tower portfolio

NAMA announces the sale of the Project Tower loan portfolio to Blackstone Real Estate Partners Europe IV. The portfolio relates to loans secured on assets under the control of the O’Flynn Group. The assets are located primarily in Ireland, the UK and Germany.

The transaction is expected to complete this week.

The Tower portfolio has a par value of €1.8 billion. The terms of transaction are commercially sensitive and are not being disclosed.

Commenting on the transaction, NAMA Chief Executive, Brendan McDonagh said:

“We are very pleased to have completed this transaction. It provides further evidence of the current and continued strong investor appetite for real estate assets and property-related loans in Ireland and in other jurisdictions to which NAMA has a significant exposure. We are particularly pleased that the transaction has been agreed with such a reputable international counterparty as Blackstone.”

Commenting on the transaction, Ken Caplan, head of European Real Estate at Blackstone, said:

“We are delighted to have had this opportunity to work with NAMA and to acquire the Tower loan portfolio and to expand our investments in Ireland, the UK and Germany.”

NOTE TO EDITORS

About Blackstone Real Estate

Blackstone is one of the world’s leading investment and advisory firms. We seek to create positive economic impact and long-term value for our investors, the companies we invest in, the companies we advise and the broader global economy. We do this through the commitment of our extraordinary people and flexible capital. Our asset management businesses include investment vehicles focused on private equity, real estate, hedge fund solutions, non-investment grade credit, secondary funds, and multi asset class exposures falling outside of other funds’ mandates. Blackstone also provides various financial advisory services, including financial and strategic advisory, restructuring and reorganization advisory and fund placement services.

With offices in the U.S., Europe, and Asia, Blackstone is the global leader in private equity real estate, with $81 billion of assets under management as of March 31, 2014. We have been one of the most active real estate investors globally having invested or committed to invest nearly $48 billion of equity capital over the past 23 years from our discretionary equity and debt funds. Today, our nearly $130 billion portfolio includes premier properties in many top locations in the U.S., Europe and Asia, with a diverse mix of hotels, office, retail, industrial, residential and healthcare investments. Further information is available atwww.blackstone.com.

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