BRIAN AND Patricia O’Donnell have conducted transactions worth in excess of €100 million with the Bank of Ireland over the past 35 years, they said in their affidavit to the court.
They couple said they made a number of significant international property investments between 2005 and 2008, using corporate entities and a number of foreign banks.
15 Westferry Circus, Canary Wharf, London:
Bought for £134.5 million (€156.8 million) in May 2005. Let on a long lease to Morgan Stanley, which provided a £131.2 million loan to the company that purchased the building.
17 Columbus Courtyard, Canary Wharf, London:
Bought in September 2006 for £121 million. Let on a long lease to Credit Suisse. Morgan Stanley loaned £108 million to the company that bought the building.
Sanctuary Buildings, Great Smith Street, Westminster, London:
Bought in August 2006 for £170 million with three other investor groups. It is let to the crown and is the headquarters of the UK’s Department of Education. Morgan Stanley loaned £146.2 million to the company that owns the building and which bought the building from a Sharia structure put in place by the previous owners.
Fatburen Buildings, Stockholm:
Bought in March 2007 for SEK 2.66 billion (€301 million) with two other investors. It is the headquarters of the Swedish tax authorities. Aareal Bank AG loaned SEK 2.22 billion to the company that owns the building.
2099 Pennsylvania Avenue, Washington DC:
Bought in April 2008 for $170 million (€121.8 million) with three other investors groups. It is leased to a number of tenants. AIB provided a loan of $128 million towards the purchase.
Bank of Ireland private banking had an involvement with the Westferry, Sanctuary and Fatburen purchases, the O’Donnells said.
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