Development Securities says in talks to buy NAMA assets

By @ibtimes on

UK property developer Development Securities said on Tuesday it was in discussions to buy a number of assets from Ireland's state-run National Asset Management Agency (NAMA).

Development Securities confirms that it is in discussions with NAMA regarding the potential acquisition of a number of different assets. However, it is not in a position to comment on these discussions at this juncture, the company said in a statement.

On Tuesday, British trade magazine Property Week reported that Development Securities and property owner Pears Group had teamed up to buy a portfolio of 38 development and investment assets for over 100 million pounds.

The magazine said the Chrome portfolio, which was owned by indebted Irish developer Gerry Gannon, included residential blocks in London's Victoria, Covent Garden and Chelsea districts.

(Reporting by Brenda Goh; Editing by Will Waterman)

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