Foreigners take command of German non-performance

Rachel Wolcott
01 Dec 2004

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In September, Hypo Real Estate Bank (HRE) sold e3.6 billion in real estate-related loans to Texas-based Lone Star, one of the world’s most prolific buyers of distressed assets. This deal was touted as the largest of its kind and contained e2.48 billion of non-performing loans (NPLs), the balance being sub-performing or on a watch list.

Despite the emergence of a deal of this size – which was quickly followed by another e394 million portfolio sold by HRE to Citigroup and Morgan Stanley, and

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