Colony Capital: Distressed loan sales set to soar in Europe

12/10/2009 | Financial Times (tiered subscription model)

European financial institutions are close to bringing a substantial volume of nonperforming loans to the market for sale, U.S. investor Colony Capital said. The firm just signed a deal to buy a package of loans secured by commercial real estate in Germany from Bankaktiengesellschaft [BAG]. "This gives us a start in the distressed business in Europe," said Dilip Awtani, a managing director with Colony.

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