Research and advisory areas within distressed real estate debt.
The following outlines the subject areas our research covers. None of the material below is a paid service, an offer of investment management, or a solicitation to buy or sell any financial instrument.
Loan portfolio analysis
Reviewing pools of non-performing and sub-performing real estate loans to understand composition, seniority and concentration risk within a portfolio.
Collateral & market assessment
Contextualising the property behind a distressed loan against comparable transactions, vacancy trends and local market conditions.
Insolvency & enforcement process
Explaining the statutory pathways available under German insolvency and enforcement law once a borrower defaults on a secured facility.
Restructuring scenarios
Comparing consensual workout structures — standstill agreements, maturity extensions, discounted payoffs — on an illustrative basis.
Market commentary
Periodic notes on trends across the German and wider DACH distressed real estate debt market, published for general reference.
Our approach
How a typical research engagement unfolds
Every research note follows the same structured process, from initial data gathering to a final written summary. This process is illustrative of our methodology and is shared for transparency.
Data collection
Gathering loan documentation, register extracts and public filings relevant to the position.
Credit review
Assessing covenants, security ranking and the events that triggered distress.
Valuation context
Benchmarking the underlying property against current market comparables.
Written summary
Producing a structured note that sets out findings, assumptions and open questions.
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