Goldman Sachs to buy loan on Belfast's Merchant Hotel

Goldman Sachs is making a substantial investment in Northern Ireland with a deal to buy loans on Belfast's Merchant Hotel and other assets from Ulster Bank, reports The Telegraph.

The investment bank is the preferred bidder to buy loans relating to the Cathedral Quarter hotel and four others after winning out over four other bids.

All the properties remain open for business as Ulster Bank continues the process of divesting itself of property debt through portfolio sales.

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Goldman Sachs has previously been active in Northern Ireland in an advisory capacity.

Conor Devine, principal of property advisory partnership GDP, said Goldman Sachs was one of a number of investors to identify Ireland as a place of high returns.

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