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Nationwide is being sued for millions of pounds by a UK property company over a loan sale to private equity firm Cerberus, in a legal process that has already cost the building society hundreds of thousands of pounds. Frogmore is claiming for damages of at least £57.6m over allegations that Nationwide breached a contract relating to the sale of commercial property loans in 2014. The real estate fund manager, whose clients include pension funds in the UK, purchased three shopping centres with loans obtained from Nationwide totalling about £115m in 2006. However, plummeting property prices during the financial crisis meant the outstanding loan balance exceeded the value of the shopping centres.  Nationwide subsequently restructured the loans, and struck an agreement with Frogmore allowing it to buy back the loans at market value in the event that the building society wanted to sell them on. In 2014, Nationwide decided to sell the loans within a broader portfolio worth £...