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Ex-Anglo bankers back Drogheda shopping centre buyout from Cerberus

Developer Phil Reilly’s Rockmill has refinanced the Southgate Shopping Centre in Drogheda, whose loans estimated to be worth €75 million were acquired by US fund Cerberus from the National Asset Management Agency(Nama) last year.

Rockmill, which developed the centre shortly before the property crash a decade ago, completed the buyout from Cerberus using finance from Earlsfort Capital Partners (ECP) and wealthy Dublin businessman Kieran Fox.

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