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The Wiesbaden-headquartered lender says the city’s hospitality sector is performing well in an inflationary environment.
The property adviser finds lenders exercising caution in expectation of further price falls in the market.
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.
Receiverships at Docklands office buildings in London suggest even prudent senior lenders will be impacted by problems in the office sector.
The manager, which initially targeted €400m for its sixth property credit fund, now expects to raise up to €300m by final close this year.
Former RBS banker Gareth Taylor has joined the firm as head of real estate debt.
The firm’s real estate debt team is aiming to raise up to €500m for its senior-focused fund.
The manager is seeking €500m equity from European institutional investors.
The US manager will include UK offices in the lending strategy of its incoming £1.4bn debt fund.