Cerberus was one of the most active buyers of developers’ and businesses’ property debts after the crash a decade ago.
Accounts lodged by Irish subsidiaries, Promontoria Aran and Promontoria Arrow, used to hold property loans the group bought in 2014 and 2015, show they collected €32.8 million between them from debtors last year. The company drew about €180 million from the German lender, which agreed to refinance the debt in 2018.
Promontoria Arrow owed its Dutch parent, Promontoria Holding 176 BV, €13.8 million at the end of last year after paying it €3.25 million during 2023. The price was heavily discounted as property values had slumped leaving debtors unable to repay the loans.