IRISH LISTED property group Real Estate Opportunities, which is majority owned by Treasury Holdings, says the National Asset Management Agency has sought repayment of loans from the company.

Earlier this week, The Irish Timesrevealed that Nama had called in its loans to Treasury, which is jointly owned by businessmen Richard Barrett and Johnny Ronan.

A spokesman for Treasury said its negotiations with Nama were “ongoing”.

Treasury is one of Nama’s 10 biggest borrowers. Reports last year suggested it owed the State agency about €900 million, although this has never been confirmed publicly.

The demand for repayment was made to REO, which is listed in London, by Nama on Tuesday and Wednesday. It relates to loans advanced to certain REO subsidiaries. It was not stated how much these subsidiaries owe Nama.

“Following subsequent negotiations,” REO said, “agreement was reached between the group and Nama on a relatively short standstill period during which no action will be taken in relation to the repayment demands, and which will allow negotiations, which have been taking place for some time between the group and potential investors, to continue.”

Nama declined to comment yesterday on REO’s statement.

REO’s most prominent development is Battersea Power Station in London. However, Nama and Lloyds Bank in Britain, last month moved to take control of that site by having Ernst & Young appointed as an administrator to the development.

REO’s portfolio also includes the Central Park office complex in south Dublin, the Stillorgan Shopping Centre as well as an interest in Bremore Port in north Co Dublin.

In its trading update, REO said trading conditions “are going to remain challenging against the background of continued economic uncertainty and dysfunctional financial markets.

“It is worth noting, however, that the picture in Ireland is beginning to improve in respect of exports, foreign direct investment and tourism, all of which are performing strongly. Domestic demand remains weak.”

REO said activity levels within its investment portfolio in Ireland “remained high” during the final months of 2011. Seven new lettings were concluded with a combined rent roll of €527,000, it added.

The lettings were in line with a “satisfactory level of activity” within its portfolio in Ireland last year. A total of 34,700sq m of commercial office and retail space was leased or sold, the company said.