Lone Star Funds, a U.S. private- equity firm, won an auction to purchase almost all of the former Anglo Irish Bank Corp.’s 6.3 billion-pound ($10.5 billion) U.K. loan book, two people with knowledge of the matter said.
Lone Star Funds, the world’s biggest buyer of delinquent mortgages, renewed efforts to sell an office and banquet hall complex in Tokyo by including land in the offer, according to two people familiar with the sale.
Commerzbank AG is sounding out buyers for a group of Spanish loans named “Project Octopus” as it seeks to sell about 5 billion euros ($6.8 billion) of debt linked to commercial real estate in the country.
The largest auction of troubled assets in the commercial mortgage-backed securities market is showing the strength of investors’ appetites for real estate as more distressed properties from the crash come up for sale.
Lone Star Funds, the world’s biggest buyer of delinquent mortgages, promoted Andre Collin to the new role of president of the Dallas-based private-equity firm, reporting to Chairman John Grayken, according to an e-mail sent to investors.
Oregon’s state pension plan decided against increasing its investment in two real estate funds being raised by Lone Star Funds, the Dallas-based investment firm specializing in distressed mortgages and other property assets.