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In stark contrast to the US, Europe’s CMBS loans have largely avoided emergency treatment, according to the London-based firm.
Rising foreclosure rates show relief has not prevented some borrowers from losing their properties – and they give a glimpse of what is to come next year.
The Miami-based firm expects most loans in special servicing to become performing again, largely because of higher credit standards post-GFC.
The world’s largest CMBS servicer says its actual special servicing activity during the covid-19 crisis is more than what the numbers show.
These debt handlers are front-and-center of the real estate distress unfolding during the covid-19 crisis.
Strong investor demand and less stringent national lockdown measures have supported the country’s real estate sector, says the Stockholm-based firm’s debt boss, Pontus Sundin.
By backing construction schemes, debt providers are carefully considering future demand for real estate, delegates at CREFC Europe’s conference heard last week.
The US manager has backed former Tyndaris real estate boss Clark Coffee’s new venture to capitalize on dislocation in the European lending market.
The $2.8bn sale to Highgate is potentially the first many large hospitality portfolio sales, but a debt transfer of its size is unlikely to be repeated
Europe
The US real estate big hitter has struck a deal to take on Swiss manager GAM’s European property debt business.
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