It’s been reported by Bloomberg News that Deutsche Bank and Kennedy-Wilson are among four bidders shortlisted to buy real estate loans with a face value of more than €400m from NAMA.

NAMA also selected Cargill Inc. unit, CarVal Investors, and Kildare Partners LLC among final bidders for the loans. The portfolio, known as Project Spring, is linked to real estate owned by Irish developer Gerry Conlan.

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NAMA, established in 2009 to purge Ireland’s banks of about €74B of risky property loans, is seeking to take advantage of renewed interest in Irish assets following western Europe’s worst property crash ever. Irish commercial real estate values rebounded almost 10 percent in the year through March, according to Investment Property Databank Ltd. They remain 64 percent below their 2007 peak.

The liquidation of Anglo Irish Bank since February 2013, with the sale of 90 percent of a €22B loan book, shows that there is strong demand for Irish commercial real estate assets, the European Commission said in a June 23 report.

It has emerged that Permanent TSB is also seeking to sell its €2.1B commercial-property book.