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Demand outstripping supply, increased investment activity and higher returns are making this space more appealing to lenders.
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.
Investment volumes for German offices are down as investors and their lenders increasingly look to Spain.
Europe
The Italian GaCS scheme, expected to be replaced this year, has boosted European securitisations to €11.7bn, from €2.6bn in 2017.
The dubious case involving Blackstone in Milan is only the latest obstacle for foreign investors.
Madrid at night
The German bank has refinanced a portfolio of six assets for Tristan with a €170m loan along with local lender Caixabank.
Non-performing loan activity keeps growing in Spain, Italy and Portugal while sales in Europe reach record levels, according to Evercore.
The European loan sales market reached new heights last year, with €113.8bn of non-performing loans been sold, according to Evercore.
Lenders have growing appetite to back Spanish housing schemes as the sector experiences a robust recovery from the last banking crisis.
Service of bell
The private equity firm’s property lending business has backed Värde Partners’ new hotel brand.
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