Cerberus nabs RBS and NAB real estate loan portfolios

Cerberus has purchased non-performing real estate loan portfolios from Royal Bank of Scotland (RBS) and National Australia Bank (NAB) totalling £6bn, it was announced today. The £4.8bn par value portfolio acquired from RBS is made up of Irish commercial real estate loans collateralised by 5,000 assets, said a source close to the deal according to Real Estate Capital's sister publication PDI. A small portion of the portfolio is made up of loans to buy-to-let investors and around 25 percent is tied to assets in Northern Ireland with the remainder in the Irish state.