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Southern Europe

Around €2bn of non-performing loans have been sold in Portugal so far in 2018, while a further €4.2bn of live deals are being tracked, according to Evercore.
Almost a decade since the launch of the Spanish equivalent to the REIT regime, listed property vehicles are creating significant business in the debt space.
The Spanish REIT, recently bought by Blackstone, has signed a facility maturing in February 2020 with BNP Paribas.
Apollo’s purchase of a €2.7bn loan portfolio from Bank of Cyprus is expected to reactivate the island’s property market.
Investment in Italian commercial real estate is down and there are signs of concern among lenders. This seven-slide presentation explores the impact of Italy’s new politics on the property sector.
Banks from Italy, France and the Netherlands have participated in a financing of several properties.
The financing of a shopping scheme in the country demonstrates banks’ returning appetite for real estate debt.
Lar España has sourced €98.5m from local banks for the construction of a shopping centre in Seville.
Italy faces a battle to retain lenders’ renewed faith in its property market amid the unpredictability created by the election of the country’s first populist government.
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