Goldman Sachs to sell Irish non-performing loans attached to 1,000 properties
Banking giant taking advantage of window in market ahead of other loan sales
about an hour ago
Goldman Sachs headquarters in New York. Photograph: Johannes Eisele/AFP
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Wall Street banking giant Goldman Sachs is currently seeking to sell a portfolio non-performing Irish mortgages attached to 1,000 properties, taking advantage of a window in the market ahead of expected problem-loan sales by banks this year, according to sources.
The portfolio, known as Project Toucan, amounts to 1,800 loans in total, they said, meaning many properties carry more than one mortgage. It is believed that the loans relate to both buy-to-let and owner occupier properties and stem from various portfolio purchases that the US investment bank was involved in over the past decade.