Lucy Scott
The credit ratings agency says the Toronto-based manager faces a 'severe test' meeting repayments as interest rate costs on the securitised loan soar.
French bank cites potential problems for Aareal and pbb Deutsche Pfandbriefbank, although the latter strongly disputes the findings.
The Eastern European property group has raised debt for offices as part of a €600m financing package.
HSBC’s exit from Canary Wharf is not a death knell for the estate. But it highlights problems facing those invested in the former financial hotspot.
A continued pause in the UK property investment market is expected following the Bank of England’s latest interest rate rise, which will further impact affordability of loans.
Receiverships at Docklands office buildings in London suggest even prudent senior lenders will be impacted by problems in the office sector.
Large commercial real estate exposures and rising credit risks of Swedish loans make the region’s biggest banks vulnerable as prices decline, DBRS MorningStar warns.
The Central Bank of Ireland’s latest review foresees continued price declines testing loan-to-value covenants.
In the first quarter of 2023, loan-to-value ratios in European markets decreased, while the total cost of debt for prime real estate remained stable, continuing a trend observed in the previous quarter of 2022.
BF.direkt’s latest sentiment survey shows tightening credit conditions as Europe’s operating conditions worsen.