US insurers target European commercial real estate debt
Attractive yields and supply demand mismatch spur interest
American insurers are increasing their investment in UK and European commercial real estate (CRE) debt, as domestic insurers struggle to meet burgeoning demand.
Large US groups, including New-York-based MetLife and Massachusetts Mutual (MassMutual), have been quick to fill the void left by European banks' withdrawal from long-term financing, hoping to take advantage of yields on CRE loans that are more attractive than those available in North America.
In March, MetLife announced it had become
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