European property-loan sales seen rising 65%
Record 2014 sales of 50b euros: Cushman & Wakefield
[LONDON] European property-loan sales will rise 65 per cent to a record 50 billion euros (S$86.5 billion) this year as improving economies in the region prompt investors to set aside more money for deals, Cushman & Wakefield Inc said.
The broker raised its forecast by 25 per cent after transactions so far this year reached 29.8 billion euros, almost equal to all of 2013, according to a report yesterday. The 2014 total was boosted by the liquidation of the Irish Bank Resolution Corp, formerly Anglo Irish Bank Corp.
This year may mark a peak for loan sales after deals soared in the first several months, Federico Montero, corporate finance partner at Cushman & Wakefield, said in a statement.
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