Lucy Scott
The chief executive of the Frankfurt-headquartered bank said he has not seen the recovery in 2024 he had expected.
The insurer has secured an 11th-hour extension to a securitised loan after agreeing to provide equity as part of a refinancing package.
The political crisis following an unexpected election will deter investors for now, say market participants.
The first interest rate cut in the euro area has not changed the lending rate outlook for real estate.
The French bank participated in what was described as the largest ever debt deal in France’s PBSA sector.
Morningstar DBRS believes the outstanding loan balance is higher than the value of the assets, as rental income declines and vacancy increases.
Most lenders surveyed by the consultant say they will increase origination this year.
The special servicer has accepted a bid for the underlying assets, which were hit by the crisis in UK retail.
The company’s managing director says its latest purchase is part of a growing portfolio of ‘essential real estate’ – for which lenders also have appetite.
Hundreds of real estate managers have reported assets are at financial risk owing to new environment regulations.