The European real estate debt funding gap (DFG) grew to €51 bn in the final quarter of 2022, due to a combination of capital value decreases which have resulted in higher loan to values (LTV) and higher interest rates pushing down interest coverage ratios (ICR), according to AEW’s latest European lending report.
The Grand Hotel Imperiale in Forte dei Marmi, Italy has been sold to UAE-based real estate company Emaar Properties, owner of renowned buildings such as the Burj Khalifa and the Dubai Mall.
