Lenders have taken control of assets with more than £1B of debt secured against them in recent months, analysis from Bisnow has revealed. But despite the amount of capital raised for distressed purchases, finding buyers in the current market is proving tricky. A review of filings from administrators and receivers to assets and companies once valued at more than £2B highlights the complexity of selling distressed schemes — especially in sectors facing dropping demand and in a financing environment that makes it hard for typical buyers of distressed assets to dive in. “There is still a lot of liquidity in the market, but it is only cash buyers right now,” RSM partner Damian Webb said. “The leveraged purchasers aren’t there, and that reduces the pool.” 
Distress is coming through quickest in the development sector, Bayes Business School senior research fellow and Project Director Nicole Lux said, pointing to shorter loan periods. Borrowers need to put up a lot of new equity to account for higher margins as… Read the full story here. | 
