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Friday, Oct 4
Goldman, Apollo among bidders for Lloyds' Dublin assets
- The asking price for the so-called Ulysses portfolio of 25 Dublin properties is $191M. Along with Goldman (GS), and Apollo (APO) reportedly submitting bids are Lone Star Funds and Irish brokerage Davy. The properties include the Justice Ministry's headquarters, office buildings, stores, and apartments.
- Lloyds (LYG) seized most of the Ulysses properties from bubble-time developer Liam Carroll. The bank is selling into a still-depressed market for non-economic reasons (investors and regulators want non-core assets spun off), meaning the buyers will likely be getting themselves a decent deal.