Eurohypo has hired Cairn Capital to advise on options for Ireland’s first CMBS deal, which is four months from loan maturity.
The €375m Opera Finance (CMH) CMBS is backed by 16 office and retail assets, mainly in Dublin, valued at €500m in December 2005. The largest property is the 145,000 sq ft Stillorgan shopping centre.
Eurohypo arranged the deal and is the servicer; Anglo Irish provided junior debt. Borrower Castle Market Holdings is owned by Real Estate Opportunities and connected to Treasury Holdings through common equity.