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James Macdonald, head of China research at Savills, explains why the country’s developers will increasingly turn to international lenders for finance.
Symi town cityscape, Dodecanese islands, Greece
Domestic banks are under pressure to reduce their bad loans and are on track to meet their targets.
Almost a decade after the country required a bailout from the IMF and EU, institutional interest in Greek real estate is on the up.
Boston Skyline with Financial District and Boston Harbor at Dusk
Bain Capital is the latest manager to target non-performing real estate loans, a strategy that has been attractive to institutional investors.
Sareb
The alternative asset firm saw several advantages in not acquiring a full stake in a Sareb-owned real estate investment trust.
A November report from the European Commission estimated total NPL volume in the EU to be €820bn.
Spain’s ‘bad bank’ will not put large portfolios of toxic assets up for sale, despite high demand from investors. This refusal might be unnecessary.
CBRE’s head of loan advisory expects an increasing number of non-performing retail loans to hit the market in the next two years.
Europe
The Italian GaCS scheme, expected to be replaced this year, has boosted European securitisations to €11.7bn, from €2.6bn in 2017.
The organisations and deals voted last year's best can be announced at long last.
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