Brehon Capital and Midwest, which is the seller, acquired the residences and retail development in 2011 as part of the mixed-use complex that includes the award winning Marker Hotel for €30m beside Grand Canal Square.

The building comprises 84 luxury apartments completed to exacting standard in addition to 6 fully occupied commercial units at ground floor level, with car parking provision for 113 spaces at basement level. advertisement

Irish Residential …

S&P became the first of the big three ratings agencies to return Ireland to the ‘A’ category last week, but it remains several levels from the prized top notch.

Ireland lost its AAA ranking from S&P in 2009. advertisement

Kyran Curry, the agency’s sovereign ratings director, said it took seven years for Australia to regain its AAA rating. In Ireland’s case, he said it would be well beyond three years.

…

Obama wanted to plan for the key accomplishments in his first term. “Your accomplishment is going to be preventing a second Great Depression”, Geithner responded. As an astute politician, Obama knew that avoiding disaster would not be enough.

Here in Ireland, the recent election results have underlined the difficult politics of disaster avoidance. After six years of painful measures to balance the Government’s books, austerity fatigue is understandably widespread. But …

Fresh from his successful Bank of Ireland sale, the US billionaire’s firm has struck a joint venture agreement with Irish investment house Cardinal Capital that aims to raise €400m for property investments.

The new fund will be open to new investors as well as those who backed Wilbur Ross, pictured, previously on deals including his successful Bank of Ireland play. The fund-raising is expected to be finalised by September.

The Department of Finance countered that it is confident Ireland has not broken EU state aid rules. A spokesman said the State’s position would be vigorously defended after EU competition commissioner Joaquin Almunia announced the much-expected in-depth investigation yesterday.

Apple again said yesterday that it had received no special consideration from Irish officials and said it was subject to the same tax laws as scores of other companies in Ireland. …

The disclosure, which comes as a major embarrassment to the public service, was made this afternoon.

Revenue said the Houses of the Oireachtas Service was among 131 individual taxpayers, companies or bodies which had made substantial settlements – totalling €23.25m – in the first three months of the year. advertisement

The steady drip-feed of global stimulus also kept world shares inching towards an all-time high as another record close for Wall Street and a three-year high for Asia left them heading for a fifth day of back-to-back gains.

European stocks were happy to take a breather in early trading after gaining almost 10 percent in the last few months, leaving the momentum from last week’s ECB cut in interest rates …

Individual mortgages would not be affected if the accounts – which were bundled together by the bank to be used to borrow on the markets – were taken over by bondholders acting through trustee Deutsche Bank.

But homeowners would get a letter telling them of the change.

Ulster Bank borrowed against the Irish mortgages during the boom through a process called securitisation.

Anglo lent Clarendon – co-owned by McKillen and Tony Leonard – around $135m to buy the building in 2006.

The purchase price was around $170m.

Most of McKillen’s loans to Anglo were bought out by US private equity group Colony Capital as part of the sale of the Project Pebble portfolio last year. “Everything is paid off and gone and out of Anglo. This is the end of it,” according …

Irish consumers and visitors are helping to spur activity in the services sector, with a gauge of activity pointing to a “blistering” pace of expansion.

The Investec Services Purchasing Managers’ Index (PMI) touched 61.7 in May, with any reading above 50 indicating expansion of activity and any figure below 50 showing contraction.

The gauge covers hotels and restaurants, transport and storage, post and telecommunications, financial intermediation, renting and business activities.