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Blackstone, Wells to buy allied Irish commercial loans

Posted on 28 October 2011

Blackstone Group LP and Wells Fargo & Co. have reached a deal with Allied Irish Banks PLC to buy a pool of about $600 million in U.S. commercial-property loans, according to a person familiar with the matter.
The duo is buying the loans backed by a mix of hotels, office buildings and retail properties in several states for a discount of 15% to 20% off face value, the person familiar with the matter said………………………………………..Full Article: Source


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