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BF.direkt AG is an independent specialist for the financing of residential and commercial property projects

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BF.real estate
finance GmbH

BF.capital
GmbH

CoRE
Solutions
GmbH

BF.solutions
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Consulting
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Nova Fides GmbH

BF.Market Radar

BF.Marktradar February 2025

The EZB is moving through an interest rate cutting cycle. There have been five interest rate cuts so far and there may be another three before the end of 2025. We take a dim of the strategy because the inflation has not quite been overcome yet. Moreover—and this is not the first time we said so—lower key lending rates do not imply that ten-year interest rates, which are crucial for the real estate market, are falling at the same rate. On the contrary, they might actually rise.

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News

All BF.direkt BF.capital CoRE Solutions BF.real estate finance Nova Fides

BF.Quartalsbarometer Q1-2025: Real Estate Lenders Start into the Year with Minor Setback

Sentiment among commercial real estate lenders has been slightly downbeat as 2025 got underway. During Q1 2025, the BF.Quartalsbarometer experienced a modest drop from -9.89 points to -10.94 points (a decline by -1.05 points). It put an end to the upward trend that the sentiment index had followed for the past five quarters. ...

BF.real estate finance Advises Globe Trade Center on the Bank Financing for the Residential Portfolio Acquired from Peach Property Group

BF.real estate finance GmbH, a real estate project financing specialist, assisted Globe Trade Center S.A. (“GTC”) with one of Germany’s biggest real estate transactions in 2024 in which GTC Paula S.A.R.L., a wholly owned subsidiary of GTC, acquired a majority interest in a portfolio of 5,200 residential units from Peach Property Group AG via a share deal with a total volume of 448 Million Euros. ...

Nova Fides Licensed as Credit Services Institution by BaFin

Nova Fides GmbH, a consultancy firm for the comprehensive managing and restructuring of loans and investments, has been licensed as a credit services institution for commercial loans in accordance with the Secondary Credit Market Act (KrZwMG) by the German Supervisory Authority for Financial Services (BaFin). This authorises Nova Fides to manage non-performing loans (or NPL for short) on behalf of purchasers active on the secondary credit market. ...

BF.Quartalsbarometer Q3 2024: Sentiment Brightening Despite Bleaker Financing Conditions

The BF.Quartalsbarometer saw its score rise for the fourth consecutive time. The sentiment index for real estate lenders ascended to -13.79 points during the third quarter of 2024, up from -15.30 the previous quarter. In Q3 2023, the BF.Quartalsbarometer had reached a trough of -20.22, a far cry from its historic peak score of +8.11 of Q1 2015. ...

BF.capital Launches Another Institutional Real Estate Debt Fund

BF.capital GmbH, an investment house for institutional investors in the private debt segment, just started its fundraising drive for another real estate debt fund. The fund, called BF.capital Real Estate Debt Fund II, aims for a target volume of 300 million euros or more. ...

BF.Quartalsbarometer Q1-2024: Sentiment Brightening Slightly for Second Consecutive Quarter

The modest upward trend of the BF.Quartalsbarometer score has so far been sustained during the opening quarter of 2024. The sentiment index for real estate lenders climbed from -17.98 points during the previous quarter to -16.88 points at the last count. It therefore marks the second, if modest, increase in a row after the all-time low of -20.22 points that was measured during the third quarter of 2023. ...

BF.Quartalsbarometer Q4 2023: Modest Year-End Recovery

In Q4 2023, the BF.Quartalsbarometer improved slightly to -17.98 points after bottoming out at an all-time trough of 20.22 points the previous month. Reasons for the modest recovery include, on the one hand, the fact that additional liquidity costs are increasingly perceived as stagnant rather than as rising. On the other hand, the gap between the margins for inventory financing and for property development financing has narrowed ...

W&W Asset Management acquires 35 percent of BF.capital

As of 2 October 2023, W&W Asset Management GmbH has acquired a 35-percent interest in BF.capital GmbH, a subsidiary of BF.direkt AG and an investment house for institutional investors in the real estate debt segment. By taking aboard this company, which is a subsidiary of Wüstenrot & Württembergische AG (“W&W”), BF.capital will expand its service spectrum, specifically by adding corporate debt and infrastructure debt solutions. ...

Nova Fides: New Consulting Firm for Real Estate Debt Restructuring Goes Live

The company Nova Fides GmbH has just been formed as a consultancy firm for the comprehensive managing and restructuring of real estate loans and investments. The start-up was initiated by the restructuring and insolvency experts Annette Benner and Dr. Gordon Geiser, who head a team of expert practitioners, and by BF.direkt AG. ...

BF.Quartalsbarometer Q3-2023: Neuer Negativrekord bei Sentimentindex für Immobilienfinanzierer

Der Wert des BF.Quartalsbarometers sinkt auf einen neuen Tiefststand. Nach einer leichten Stimmungsaufhellung im Vorquartal und einem Barometerstand von 17,29 erreicht der Sentiment-Index für Immobilienfinanzierer aktuell 20,22 Zähler. ...

BF.Quartalsbarometer Q1 2023: Sentiment Index for Real Estate Lenders Hits Another All-Time Low

With the trend of previous quarters persisting, sentiment among Germany’s real estate lenders has not brightened during the first quarter of 2023 either: The Barometer score kept deteriorating, from its previous all-time low of -18.21 points of the fourth quarter of 2022 down to now -19.44 points. ...

BF.Quartalsbarometer Q4-2022: Sentiment among Real Estate Lenders Drops to New All-time Low

Sentiment among German real estate lenders has continued to decline during the fourth quarter of 2022: The barometer score dropped from -16.91 points measured during the third quarter down to 18.21 points now. The score marked another all-time low, having already hit a record low the previous quarter. ...

BAI Newsletter August 2022 - Article Manuel Köppel

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BF.Quartalsbarometer Q3 2022: Sentiment among Real Estate Lenders Hits Rock Bottom

Sentiment among German real estate lenders has continued to deteriorate during the third quarter of 2022: The latest barometer score plunged from -12.01 points in the previous quarter down to -16.91 points at the last count. ...

BF.real estate finance to Extend its Real Estate Financing Services to International Clients in Future

BF.real estate finance GmbH, a German specialist for real estate development finance, will extend its services to international clients in future. To this end, the company recruited Daniel Endemann as Managing Director. ...

Kommentar Jan von Graffen, Absolut/private, März 2022

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BF.Quartalsbarometer Q1-2022: Sentiment Keeps Deteriorating among Real Estate Lenders

Sentiment among German real estate lenders has continued to deteriorate slowly for the second quarter in a row during Q1 2022: The latest BF.Quartalsbarometer score shows a drop to -1.45 points. ...

BF.Quartalsbarometer Q4 2021: Sentiment among Real Estate Lenders has Darkened again

Sentiment among Germany’s real estate lenders deteriorated slightly during the fourth quarter of 2021. The latest BF.Quartalsbarometer returned a moderately negative score of -0.31 points. ...

BF Group Undergoing Comprehensive Restructuring

The BF Group, a specialist for funding residential and commercial real estate projects, is restructuring its group of companies, and repositioning itself to be fit for the future. ...

BF.direkt AG Recruits Three New Staff

BF.direkt AG, a specialist for real estate finance, is reinforcing several of its units with three new experts. ...

BF.capital Recruits Markus Kipp as Managing Director for Real Estate Debt

BF.capital GmbH, a subsidiary of BF.direkt AG and the group’s investment house for institutional investors in the area of real estate debt, recruited Markus Kipp (43) as Managing Director for its investment team. ...

Increased Odds for Long-Term Rise in Inflation Rates

The end of the corona year 2020 with its massive government aid programs in North America and Europe has caused the public debate to return to the subject of inflation. ...

BF.Quartalsbarometer Q1 2021: Sentiment among Real Estate Lenders, while Brightening, Remains Negative

While the COVID-19 lockdown continues, sentiment among German real estate lenders brightened during the first quarter. ...

BF.direkt gains Fabio Carrozza as Head of Relationship Management & Loan Origination

Carrozza has many years of experience in supporting corporate and real estate customers and structuring corporate, real estate and portfolio finance. ...

BF.capital Grants Two Whole Loans over a Total Amount of 50 Million Euros

BF.capital GmbH, an institutional investment house in the area of real estate financing debt, just granted the first two financing arrangements within the framework of its mandate by a major German insurance company ...

Jan von Graffen Appointed as Managing Director of BF.capital

BF.capital GmbH, an institutional investment company in the real estate debt sector and part of the BF.direkt AG conglomerate, has appointed Jan von Graffen (44) as Managing Director. ...

BF.direkt structures financing for two nursing care facilities

BF.direkt AG, the specialist for property project financing, has structured the financing for the construction of two nursing care facilities. ...

BF.direkt brokers and structures financing for project development worth EUR 35 million

BF.direkt AG, the specialist for property project financing, has brokered and structured financing of around EUR 35 million. ...

BF.Quarterly Barometer – what the real estate finance industry is thinking

The BF.Quarterly Barometer is one of the most important indicators of sentiment in the commercial real estate finance sector in Germany. It offers detailed insight into the business climate in the industry. The BF.Quarterly Barometer surveys around 110 experts, most of whom are directly responsible for lending to real estate companies. BF.direkt publishes the index, prepared by bulwiengesa AG, every quarter.

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BF.Quarterly Barometer