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REC’s view

Alternatives are coming into focus

There are benefits for debt providers in looking outside the mainstream real estate sectors. But financing alternative property assets requires an understanding of the factors driving demand.

The European CMBS market is having a growth spurt

Commercial mortgage-backed securities issuance in Europe is gathering steam, with at least four deals in the pipeline.
ity of London - the UK's financial hub

Five takeaways from the Cass report

An increase in lending activity, a retreat by the German banks and a drop in residential development finance are among the key trends highlighted by the business school’s latest report on UK property lending.

Lenders should not always give borrowers what they want

Although some borrowers are asking for higher leverage, lenders should only provide it when there is a clear opportunity to add value to an asset.

Financing retail requires an urgent rethink

Retail property needs to adapt to survive. And to ensure it has an adequate supply of debt, lenders and borrowers must adjust their approach.

SAREB risks losing momentum by abandoning NPL sales altogether

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.

Europe’s office opportunity moves south

Investment volumes for German offices are down as investors and their lenders increasingly look to Spain.

Loan-on-loan deals show how European real estate finance is being gradually Americanised

European banks’ growing interest in funding non-bank lenders illustrates how the continent’s property debt market is coming to resemble its US counterpart.

Why property lenders don’t think they will cause the next downturn

Panellists at the fifth annual Real Estate Conference in Oxford insisted that reckless lending is no longer the norm, but warned of parallels with the activities that occurred in the run-up to the global financial crisis.

How JLL stands to benefit from HFF’s European debt business

Since it launched in London in 2017, HFF has made significant inroads in European property debt advisory.
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