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Asset-backed securities and commercial mortgage-backed securities became a very effective tool of financing real estate in the United States in the past decades. In Germany, these financing strategies are still at an early stage of development. However, large residential real estate portfolio transactions with values over ¤ 1 billion forced investors to enter alternative fields of financing. Otto von Troschke evaluates Asset Securitization as a mean of financing large residential portfolios in Germany. The author hereby provides an analysis of securitization including financing framework and…mehr

Produktbeschreibung
Asset-backed securities and commercial mortgage-backed securities became a very effective tool of financing real estate in the United States in the past decades. In Germany, these financing strategies are still at an early stage of development. However, large residential real estate portfolio transactions with values over ¤ 1 billion forced investors to enter alternative fields of financing. Otto von Troschke evaluates Asset Securitization as a mean of financing large residential portfolios in Germany. The author hereby provides an analysis of securitization including financing framework and key participants. The current relevance of the topic is highlighted in three case studies, which illustrate the different objectives and structures of securitization. In this context the deal structure, loan arrangement, and transaction structure are analyzed in order to understand the applicability of securitization to finance large residential portfolios.
Autorenporträt
von Troschke, Otto§Otto von Troschke studied International Business Administration in Oestrich-Winkel, Hong Kong and London. Currently, he works for an American investment fund.