Shop Talk: A Conversation with Dr. Michael Schwalba
HSH Nordbank AG, based in Hamburg and with total assets of €205 billion, is a leading provider of marine and real estate finance. Editor Richard Fleming recently talked with Dr. Michael Schwalba, head of real estate structured finance, about the evolving focus of the bank’s real estate finance activities and the prospects for a return of confidence and a resumption of normality in the securitisation and syndication markets.
Against the trend, HSH Nordbank has been quite active in recent months with real estate debt financing arrangements, particularly for London office developments — the market that everyone says has been hit hardest by the credit crunch. What issues were thrown up in these deals?
We are a long-term believer in the Lo