What we do
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Analysis of European commercial real estate debt markets (services provided in collaboration with industry partners).
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Detailed benchmarking services (in partnership with our industry partners).
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Credit analysis & loan underwriting.
Who is it for?
Our projects and partnerships
We are working in collaboration with Bayes Business School, City University of London, IEIF France and IREBS Regensburg, Germany to bring together market research insights across Europe to an overall European commercial real estate debt report.​​
Our Research & Analytical Products
European CRE debt lender & advisor report
The report summarises the lending market activities of lenders and debt advisors, including:
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Active lender groups
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Active advisors – advisor league tables
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Lender offer terms, senior/junior, LTV, ICR
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Regional & asset distribution, lender preferences & lending policies
Industry Partnership
Thanks to our partnership with FinLoop, we are providing detailed loan market benchmarks across European markets and property types.
Analytical Products & Benchmarks
European CRE mid-market debt report - FinLoop Analytics
​Collaboration with the FinLoop data platform
The market report provides insights into the CRE lending market on a semi-annual basis from a borrower perspective, including:
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lending volumes,
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active lenders
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loan pricing, LTV, ICR
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regional lending activities
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asset types
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senior/junior lending
The report analyses all CRE lending activities from borrowers reporting to the FinLoop Data Platform.
Standardised CRE debt benchmarking Matrix
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Standardised CRE loan price benchmarks, semi-annual reporting basis
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Standardised benchmarks are available for different asset types, lender groups, loan sizes, geographic distribution, asset credit qualities, senior/junior loan pricing, LTV, and ICR
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Tax transfer pricing/inter-company loan pricing
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Fully accepted by European & UK tax authorities as 3rd party benchmarking & arm’s length transaction assessment for over 15 years
Bespoke CRE debt benchmarks with market comps (sample report):
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The bespoke benchmarking report provides a credit quality assessment of a specific market/asset type, loan type, together with market comps
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Tax transfer pricing/inter-company loan assessment
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Fully accepted by European & UK tax authorities as 3rd party benchmarking & arm’s length transaction assessment
About Me
Nicole Lux is the lead author and project director of the Bayes UK CRE lending report, Bayes Business School, City University of London.
She is a real estate professional with more than 25 years of experience in real estate equity investing and debt analysis.
Throughout her career, she has worked in loan origination and distressed asset workout at leading international banks such as Citigroup and Deutsche Bank.