We believe that it is important for industry bodies to collaborate wherever appropriate. While different industry bodies may have differing memberships, objectives or perspectives, where overlaps are substantial they will usually best serve their members’ interests by sharing information and cooperating.
In addition to our close relationship with our American sister organisation, the CRE Finance Council, we are an active member of the Property Industry Alliance in the UK and the European Real Estate Forum at the EU level. We were represented on the Real Estate Finance Group that produced the report A Vision for Real Estate Finance in the UK and are involved, through the Property Industry Alliance and in dialogue with the Bank of England, in seeking to implement certain of its recommendations in a sensible way. We also collaborate where it makes sense to do so with other associations, including AFME, the Loan Market Association, UK Finance and the Association of Property Lenders.
We are among the financial supporters of the UK Commercial Property Lending Report produced by the Business School, City University of London (previously, De Montfort University), the more recently established German Debt Project of the International Real Estate Business School (IREBS) at Regensburg University, and the even newer research into the French CRE lending market run by L'Institut de l'Épargne Immobilière et Foncière (IEIF).
The Property Industry Alliance
The Property Industry Alliance is formed of eight leading UK real estate industry bodies who work together to give the CRE sector a stronger collective voice. In 2020, it published a best practice framework for a responsible real estate industry; then, when the pandemic overwhelmed policymakers, it became a vital forum for industry discussion and dialogue with the UK government.
CREFC Europe is the only member organisation with a specific focus, expertise and representation relating to CRE finance markets. The other current members of the PIA are the Association of Real Estate Funds, the British Council for Offices, the British Property Federation, the Investment Property Forum, Revo, the Royal Institution of Chartered Surveyors and the Urban Land Institute.
The PIA's committees cover areas including research, sustainability and debt. Its publications include the Property Data Report (this is the most recent edition).
The European Real Estate Forum
The European Real Estate Forum is an informal alliance of organisations with an interest in institutional investment in European real estate, including investors, fund and asset managers, property professionals and property companies. CREFC Europe is the only member organisation that is specifically dedicated to representing the lending and debt investing side of the industry. Again, it has played a vital role in facilitating industry dialogue across Europe's real estate sector amidst the pandemic. You can learn more about the European Real Estate Forum here.
The Real Estate Finance Group
The Real Estate Finance Group was formed in late 2012 to take a strategic and holistic look at how the feedback loops between the property cycle, the credit cycle and the regulatory cycle might be reduced. The overriding aims of the group’s recommendations are to improve financial system resilience and facilitate a more consistent and sustainable flow of credit to the real estate sector across the cycle.
The Debt Group of the Property Industry Alliance has taken on responsibility for bringing the group’s recommendations forward towards implementation – a task in which CREFC Europe is closely involved.
You can access its original 2014 report, A Vision for Real Estate Finance, as well as a number of subsequent related materials (the 2017 Long-term Value Methodologies Report, a 2018 report into the cyclical profitability of CRE lending, and two 2020 reports from the IPF developing that work (a summary report and a full report).
UK Commercial Property Lending Report
Since launching in 1997, the De Montfort University’s twice yearly Commercial Property Lending Report become the most comprehensive report into commercial property lending in the UK and a benchmark industry report for the sector and for policymakers and regulators. it is now operated by The Business School (formerly Cass), City University of London, and CREFC Europe is one of its financial supporters. You can find out more about the research and purchase reports here (discounts may be available to CREFC Europe members).
The German Debt Project
The German Debt Project was established at Regensburg University’s IREBS to report on the commercial real estate lending market in Germany, issuing its first report in 2013. You can learn more about the project and purchase reports here (discounts are available to CREFC Europe members).
French Commercial Real Estate Debt Market Study
The IEIF, a 125 member-strong research centre focused on real estate ) completed its first annual survery of the French real estate debt market in 2019. Thsi is the first industry-wide survey and for its first year included 15 participants (9 banks and 6 alternative lenders) accounting for €55bn of stock and €20bn of lending in 2018. The second annual survey was published in late 2020, with 18 lenders participating and covering €75bn of stock and €26bn of new lending. You can find out more about the research and IEIF here.
Satellite Event: Challenges in the D&I world, what has gone well & what we could do better?
- 01 November 2021
- United Kingdom