As bank lending tightens on the heels of rising interest rates and recession fears, more institutional investors are looking to opportunities in commercial real estate debt lending as a means for generating income. Globally, what should they understand about this space, and where can they find the best opportunities?

In July, Institutional Real Estate Asia Pacific senior editor Dr Jennifer Molloy spoke with three experts on nonbank commercial real estate lending, and their responses are collected below. We have regional perspectives on the United States from Kirloes Gerges, managing director, portfolio manager, private real estate debt, Principal Asset Management; on Europe from Hans Vrensen, managing director, head of research and strategy at AEW in Europe; and on Asia from Justin Lau, first vice president (real estate financing) of a Chinese bank.