GRI Credit Opportunities & RE Debt 2025

Time to Step into the Trillion Pound Funding Gap?

26th November
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Victor Tranquilini
Victor
Victor Tranquilini
Head of UK, Germany and CEEGRI Institute
About GRI Credit Opportunities & RE Debt 2025

What does 2025 have in store for real estate capital allocations, credit and debt finance markets? Can we expect the current retrenchment to continue or will the billions of dry powder be finally unleashed?

Spend time with European Lenders, CEOs,  Heads of Debt, Secondaries & Special Situations involved in Real Estate transactions and gain personal anecdotes that might help you identify your next debt opportunity.

No press, no formal agendas, no stages, just qualified decision makers with risk in real estate transactions, sitting down together for closed door discussions.

Unique Format
 
Networking made easy
 
Roundtable Discussion
 
In-depth industry knowledge

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& RE Debt 2025

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Opening Talkshow | 09:00 - 10:15

Opening Talkshow

Navigating Real Estate Credit & Debt Cycle - How Are Global Players Positioning Across Markets, Sectors, and the Capital Stack?

  • Financing Landscape: How are global lending dynamics evolving as traditional banks retrench and private credit funds expand their footprint across real estate financing? 
  • Debt Positions & Strategies: Are investors moving up the capital stack toward senior lending for safety, or down into mezzanine and preferred equity for enhanced returns?
  • Assets & Regions: Which sectors and regions currently offer the best risk-adjusted opportunities in debt investments?
  • Future Challenges & Opportunities: How will sustained interest rate pressure, refinancing cliffs, and regulatory shifts shape liquidity, pricing, and distressed debt opportunities in the coming years?


Breakout Discussion | 10:45 - 11:45

Private Credit Surge

Is Non-Bank Lending the New Normal?

  • Financing Evolution: How is the change of traditional bank credit creating space for private credit funds, insurance capital, and other non-bank players to actively engage in real estate financing?
  • Debt Positions & Risk Appetite: How are lenders positioning themselves in the capital stack and what risk-return profiles are they targeting?
  • Banks vs. Alternative Lenders (and Collaboration): Are we moving toward competition or complementarity? How can banks and private credit platforms collaborate through co-lending models?
  • Future Challenges & Opportunities: What hurdles remain and how will real estate financing be in this cyclical response?
Breakout Discussion | 10:45 - 11:45

Mid-market

Hidden Gems or Hidden Risks?

  • How are smaller and regional lenders structuring midmarket real estate deals amid tighter credit, higher rates, and growing competition from private credit funds?
  • Debt Positions & Market Role: What advantages do midmarket lenders have in speed, flexibility, and local knowledge — and how are they positioning themselves in the capital stack compared to larger institutions?
  • Opportunities Ahead: Which segments offer the strongest potential for yield and manageable risk in the midmarket space?
  • Key Challenges for the Future: How can smaller lenders scale while remaining agile and competitive in a changing credit environment?


Breakout Discussion | 12:15 - 13:15

Capital Stack Strategies

Senior, Mezz, Pref… What Works Now?

  • How are current credit conditions influencing how deals are structured?
  • Debt Market Positions: Where are lenders positioning themselves in the stack and how are they managing risk-adjusted returns? Are creative structures the real catalysts for deal flow today?
  • Appetite Across Europe: Which markets and sectors are seeing the greatest activity for each layer of the capital stack and how does local regulation affect capital structuring?
  • Future Challenges & Opportunities: How can lenders and investors capitalize on dislocation while maintaining discipline in underwriting and governance?
Breakout Discussion | 12:15 - 13:15

Southern Europe

Is Southern Resilience Paying Off?

  • Financing Landscape: How are lenders structuring deals in Southern Europe amid improving fundamentals but uneven access to credit?
  • Debt Market Positions: What’s the current stance of domestic versus international lenders — are local banks still dominant, or are private credit and alternative lenders filling the regional financing gaps?
  • Regional Appetite & Comparison: How does investor sentiment toward Southern Europe compare with other countries? Has investor confidence matured into structural conviction?
  • Future Challenges & Opportunities: What factors will define the next growth phase?


Breakout Discussion | 12:15 - 13:15

Germany

Recovery, Repricing, or Retreat?

  • Financing Landscape: How are lenders approaching financing in Germany amid repricing, borrowing costs, and underwriting standards?
  • Debt Market Positions: What roles are domestic banks, international lenders, and private credit funds playing in the German market — and how is the balance of power shifting across the capital stack?
  • Appetite & Comparative Position: How does current investor sentiment toward Germany compare with other major European markets — is it still viewed as a safe haven or a market in transition waiting for clearer price discovery?
  • Future Challenges & Opportunities: What will drive recovery and how can lenders position themselves to capture the next wave of deals?


Breakout Discussion | 14:15 - 15:15

Cross-Border Lending

Where is financing flowing most actively and how are lenders using diverse capital stack layers across regions?


  • How are cross-border lenders adapting to different regulatory, legal, and macro environments across Europe?
  • Debt Market Positions: Which players are most active in cross-border lending, and how are they structuring deals to balance jurisdictional differences?
  • Regional Appetite & Capital Stack Strategies: Where is capital flowing most actively and how are lenders using diverse capital stack layers to optimize returns?
  • Future Challenges & Opportunities: How can lenders navigate increasing market fragmentation and valuation uncertainty while leveraging cross-border partnerships to bridge Europe’s fragmented lending landscape?


Breakout Discussion | 14:15 - 15:15

Value-add & Opportunistic Deals

Where Are the Real Opportunities?

  • What defines a “value-add & opportunistic” strategy and how are lenders structuring financing for these deals?
  • Appetite & Strategy Shift: Are debt providers becoming more selective or more creative — and which asset classes are attracting capital today?
  • Risk & Return Balance: How are investors pricing risk in this segment and what will define success in Europe’s new value-add cycle?
  • Reset Ahead: Will new positions and strategies redefine the value-add preferences? More space for equity?




Plenary Discussion | 15:45 - 16:45

The Refinancing Crunch

Deal or Default?

  • How are lenders approaching upcoming refinancing waves amid rising rates, lower valuations, and tighter credit conditions?
  • Market Liquidity & Pricing: How is the cost and availability of debt evolving across Europe’s core and secondary markets, and what impact does that have on deal flow and refinancing feasibility?
  • Where are lenders and debt funds seeing opportunity?
  • Future Challenges & Risk: What are the biggest hurdles ahead and how can lenders work collaboratively with borrowers to rewrite playbooks before defaults reshape the market?


Networking Cocktail | 16:45 - 17:30

Closing Drinks

Insiders View
 
Exclusive GRI Report:
Real Estate Credit & Debt Outlook
Insights from the biggest debt players in the industry on what to expect from the markets in 2025 and beyond
Exclusive GRI Report:
Macroeconomic and Real Estate Financing Outlook
Key economic and market insights from discussions among top industry experts
Download the report now
Gain access to the report by filling in your details below.
Sucessful Registration! Our team will reach out soon to proceed with the next steps.
Download the report now
Gain access to the report by filling in your details below.
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Lead Sponsors
Pan European Institute Partner
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