As alternative lenders expand their market share across Europe, debt advisory is gaining prominence, CBRE’s Chris Gow and Clarence Dixon argue.
Real estate specialists say the country’s market needs innovative lending solutions
Alternative lenders are thriving in mid-to-large loans while banks dominate larger deals, says Trimont’s Dean Harris.
Today’s real estate market is transforming the role of loan servicers, says Mount Street’s Serenity Morley.
While the region is in a more stable economic place today, the uptick in transaction activity isn’t happening uniformly across all regions, says Gareck Wilson, managing director at Solutus.
Non-bank lenders are finally being compensated for risk in Europe’s largest real estate market and have a crucial role to play in capital restructuring, according to PIMCO’s Roman Kogan and PIMCO Prime Real Estate’s Roland Fuchs.
Three Stars Capital Partners’ Mauro Savoia highlights the resurgence of hotel opportunities for investors and debt providers following the covid crisis.
Cautious senior and junior lenders are carefully selecting when to extend maturities, while sponsors are being equally careful in selecting when best to inject equity into deals, to avoid throwing good money after bad, says First Growth’s Francesca Galante.
Conditions in European real estate debt markets favour alternative lenders. But sluggish investment activity is picking up only slowly, and underwriting remains challenging, say roundtable participants.
After a period of recalibration, opportunities abound in European real estate lending, says Apollo’s Ben Eppley.