PIE Events
- German Property Breakfast
14 February 2012
Stockholm
- Distressed Property Breakfast
22 February 2012
London
- Central and Eastern Europe Real Estate Conference
03-04 May 2012
Vienna, Austria
Market-based `Brady' approach needed to meet CMBS challenges, says ING's Rang
Given the overhang of real estate debt, in particular CMBS, a Brady Plan equivalent could be an interesting solution, says Michiel Rang, Head of Europe and Asia for ING Commercial Banking in a PIE Guest Column. "If a way could be found with government backing to discount this debt to reflect long-term underlying property values and avoid potentially excessive impairment to market value, it could attract investors back into the real estate market but on a more sound basis and with a better understanding of underlying risks." (See PIE 156 for full story)