European real estate loan sales market

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During 2012, C&W recorded total commercial real estate (CRE) loan and REO sales of €21.7bn.

Whilst there was a tendency towards larger portfolio sales over the past 12 months, the divergence around the size of each transaction was wide, ranging from €40m to €2.5bn.

By volume, over 90% of transactions occurred in just four countries – UK, Ireland, Germany and Spain, with the UK market alone accounting for 28%.

Nine of the top 10 sellers were banks based in either the UK, Ireland, Spain or Germany, confirming the belief that banks within these jurisdictions are further advanced in the deleveraging process.

C&W recorded transactions involving €1.1bn of loans which failed to close. One suggested cause for such failures was the inadequate provision of information on the underlying collateral.

C&W is currently tracking over €3.6bn of live transactions and is aware of €8.6bn of CRE loan and REO sales at the planning stages.

Going forward into 2013, C&W expects a reduction in the average portfolio size and an increasing number of buyers.

C&W forecasts €25bn of transactions over the next 12 months.

Source : Cushman & Wakefield

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Mots-clés : Cushman & Wakefield