The mountain of European real estate debt set to mature over the next three years will lead to more forced sales but asset protection schemes already in place in many countries will ensure a gradual release of poorer-quality assets to the market and orderly workouts, according to CB Richard Ellis' European Commercial Real Estate Debt ViewPoint released at Mipim on Wednesday. According to CBRE, some EUR 970 bn of European commercial real estate debt was outstanding at the end of 2009. Germany and the UK account for over half of this figure, at 24% and 34% respectively, mirroring their typical share of European commercial real estate investment activity.
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