Top 30 European lenders

REC 10.14 cover picReal Estate Capital profiles the leading lights of the European real estate lending scene, from the previously dominant big banks to the new breed of lenders that are helping to reshape and broaden the market

At Real Estate Capital, we report on the financing for real estate, day in and day out. This is our list of Europe’s top 30 lenders.

It isn’t a scientific nor comprehensive survey and it is definitely not based on the size of their loanbooks. Rather, we are spotlighting the lenders that we see are actively supporting the real estate industry.

The financing of real estate in Europe is undergoing a massive structural shift. Banks, which traditionally dominated the market, are adjusting to the post crisis realities of new regulatory regimes; new lenders, drawing on different sources of capital, are starting to make an impact.

Our chosen 30 highlight the diversity of finance that is emerging. They include 18 banks and 12 other lenders.

The former range from retail banks that were bailed out during the crisis, through German pfandbrief-backed stalwarts and US investment banks to global giants.

The new breed of alternative financiers includes a healthy mix of insurance companies, private equity funds and stockmarket-listed vehicles.

What’s noticeable now is that all these lenders are very focused on the particular parts of the real estate market they can profitably support. This applies not only to geographies, but also to which sponsors and types of assets they will back and which parts of the capital stack they will provide.

The encouraging news for borrowers is that not only has debt started flowing again, but it is moving into a widening range of real estate. Taken together, our top 30 will finance big and small assets, prime and less-so, regional locations, mainstream sectors and alternative ones, investments and ground-up developments. ■

Click to see: Real Estate Capital Top 30 European lenders