Is NAMA a good property management company?

patslatt

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Apr 11, 2007
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Does NAMA have the financial and business skills to restructure colossal property debts,to negotiate leases and to recognise which projects can be completed and swiftly sell them off? Is it getting good expertise from the banks on this at a reasonable cost? What progress is it making on seizure of assets and disposals of assets? Is it a good management company or a property zombie? Calling on P.ie wisdom of crowds to find answers!
 


johnfás

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Feb 22, 2007
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It is too secretive an organisation to really know alot about what it is doing. However, they have certainly taken in some 'high calibre' individuals with plenty of industry experience. The problem in some cases is that these people are the same individuals who put together the property consortiums that they are now chasing up and taking over the management of. Think of that what you will.
 

patslatt

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Joined
Apr 11, 2007
Messages
13,637
It is too secretive an organisation to really know alot about what it is doing. However, they have certainly taken in some 'high calibre' individuals with plenty of industry experience. The problem in some cases is that these people are the same individuals who put together the property consortiums that they are now chasing up and taking over the management of. Think of that what you will.
Takes a property developer to handle a property developer!
 

johnfás

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Feb 22, 2007
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2,715
It probably hires in external property experts?
I know they took on a few figures who had been prominent in various estate agencies and stockbrokers around Dublin where their previous role was putting together tax based development consortiums. You see plenty of these consortiums in alot of trouble now in Phoenix Magazine - dentists etc. I assume these guys were taken on in portfolio management roles similar to what they'd have managed in the stockbroker firms.
 

tonyedit

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Sep 16, 2009
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It appears to be working by employing the kind of people that should be telling Europe how we do business here at the moment.
 
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