It’s a mixed picture in European real estate lending, with volumes increasing in Germany, the Benelux and Nordics, but declining in the UK, according to the latest European Lending Survey for Spring 2017 from Cushman & Wakefield.
Cushman & Wakefield
Despite the dip, the amount of new debt and equity available for real estate investment globally remains the second-highest on record.
Cushman & Wakefield has hired real estate capital markets specialist Ritesh Ramchandani to join the debt and structured finance business which it established last year, Real Estate Capital has learned.
Austria-based banking group Raiffeisen has provided more than €50 million of debt to refinance the luxury Four Seasons Hotel Gresham Palace in Budapest, in a deal arranged by Cushman & Wakefield’s EMEA structured finance unit.
The majority of European real estate lenders remain willing to finance UK commercial property despite the country’s Brexit vote, according to new research by Cushman & Wakefield, which also showed that margins have increased and loan-to-value (LTV) ratios have dropped across Europe.
Cushman & Wakefield has hired the former head of debt origination at GE Capital Real Estate, James Spencer-Jones, to lead its newly launched EMEA structured finance team.
Spain was the most active market for real estate loan sales during the first quarter of 2016 in what Cushman & Wakefield has described as a subdued start to the year.
Federico Montero, the well-known loan portfolio sales advisor, has left Cushman & Wakefield after four years with the company.
A total of $235 billion of available debt capital is targeted towards global commercial real estate, according to new research unveiled at MIPIM by Cushman & Wakefield.
At MIPIM in Cannes this morning Cushman & Wakefield predicted that global trading volumes will rise 4 percent this year, adding that this base case “could easily be bettered if current global volatility levels stabilise or decline.”