European real estate loan sales will increase 65 percent to a record 50 billion euros ($69 billion) this year as a receding debt crisis prompts investors to set aside more money for purchases, broker Cushman & Wakefield Inc. said.
The surge of office demand from New York’s technology, media and fashion companies is rapidly depleting the supply of affordable space in the city, especially in lower Manhattan, according to brokerage Studley Inc.
Along Lisbon’s Avenida da Liberdade, a half-dozen vacant buildings mar a boulevard lined with gardens, ornately tiled sidewalks and luxury shops that’s considered the Champs-Elysees of the Portuguese capital.
European Central Bank stress tests of lenders will create real estate investment opportunities this year as the region’s banks shore up their balance sheets, according to the head of Axa SA’s property unit.
Billionaire Nicolas Berggruen and two Portuguese partners plan to spend as much as 300 million euros ($413 million) this year on rundown buildings in Portugal as the country’s real estate market rebounds.
Lloyds Banking Group Plc agreed to sell European real estate loans for about 235 million pounds ($387 million) to an affiliate of hedge-fund operator Marathon Asset Management LP as the bank disposes of non-essential assets.