European CMBS forced to the brink
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“We’ve not negotiated costs down when we had the opportunity because we want flexibility in our funding” |
The switch in focus from the commercial mortgage-backed securities (CMBS) market to bank debt has brought to prominence a number of investors seeking to take advantage of opportunities in the commercial real estate market. “These funds have solid relationships with banks and a good track record,” says Tim Crossley-Smith, head of valuation at property consultants GVA Grimley in London.
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