As highlighted throughout this book, a significant development in the capital markets over the last two decades has been the arrival of real estate debt on the global stage as an asset class in its own right. Based on its increasing popularity, the financing and investment of CRE flourished in the market in the period up to 2007, as a result of a highly competitive CRE lending environment, yield compression and the evolution of attractive capital market exits.

Originally published in Sweet & Maxwell - November, 2016.