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The Berlin-based advisory and investment firm records 151 investors currently active in Germany’s subordinated debt market.

Speaking ahead of the publication of its H1 2020 report, Nicole Lux of The Business School at City, University of London says lenders have focused on the residential sector.

Refinancing challenges in Europe’s property debt market could lead to more direct real estate sales in the coming 18-24 months, the consultant says.

The recent upsurge in the use of company voluntary arrangements on the UK high street is adding to the risk of financing retail property.

New research suggests there is a real estate debt funding shortfall ahead. But the problem is unlikely to be as severe as in the aftermath of the global financial crisis.

The investment manager expects the covid-19 crisis to create a debt funding gap, albeit far smaller than that seen after the 2007-08 crash.

The property investment arm of German insurer Allianz has acquired two office buildings in Paris as a demonstration of confidence in what many regard as a highly uncertain sector.

Insurer Die Bayerische has provided credit, alongside equity, to back the investor’s multifamily acquisition programme.

The covid-19 crisis has accelerated two different shifts in how properties with a space-as-a-service component will be valued.

As retail and office sectors trend toward volatility, the steady returns of sale-and-leaseback strategies are becoming attractive fixed-income substitutes.