Much work remains to be done in the German market to restructure real estate loans that have turned sour, according to Mair , partner at the German restructuring practice of EY. Speaking at a debt finance investment briefing in Spain , Jon Gray said sales of non-performing loans have started up again. "For 10 years I have focused on the real estate space and NPLs and I have never seen money this cheap. Our team is working on a number of acquisitions and disposals."Mair's comments contrast with those made recently by Daniel Mair , Blackstone"s global head of real estate, who said there was "no question" that Europe is past the distress phase.
Much work remains to be done in the German market to restructure real estate loans that have turned sour, according to Daniel Mair, partner at the German restructuring practice of EY. Speaking at a debt finance investment briefing in Frankfurt, Mair said sales of non-performing loans have started up again. "For 10 years I have focused on the real estate space and NPLs and I have never seen money this cheap. Our team is working on a number of acquisitions and disposals."Mair's comments contrast with those made recently by Jon Gray, Blackstone"s global head of real estate, who said there was "no question" that Europe is past the distress phase.