Ezra Nahome, CEO of LSH, said: "The sale represents the latest major acquisition of a non-performing loan deal we have advised Cerberus on in the last year, following the purchase of the £325m Project Avon portfolio in June, the £4.5bn Project Eagle portfolio in April and the £375m Project Thames portfolio in 2013."
A diverse portfolio of assets
The portfolio’s 'Pool A' comprises a vast array of asset classes across the UK - 255 commercial properties, including a Radisson Blu hotel in Cardiff, and 490 residential assets. 'Pool B' of the portfolio consists of over 1,400 let and vacant residential properties.
Cerberus beat off competition from a number of US-based bidders.
Advised on over £25bn of distressed debt portfolios
Ezra added: "We provided strategic advice, utilising Countrywide’s regional network of residential property specialists. Our expertise in the local markets allowed Cerberus to quickly gain an understanding of the risk options on the assets, resulting in a successful bid for the portfolio."
"Our team has advised on over £25 billion of distressed debt portfolios to date and we are ideally placed to benefit from this growing market."