FRANKFURT-Following a ‘first wave’ of non-performing loans in Germany, a second is about to break as loans mature in 2011-2015 and these could bring up to $19 billion in volume into the marketplace for workout, Ruprecht Hellauer, managing partner of the structuring specialist Lohnbach Investment Partners here.

Hellauer said NPL trading activity increased over the last months. “These are either NPLs from the last wave – or little test balloons where banks have put together a couple of loans to just try to see and understand where the market is right now,” he said. “Broadly the institutions selling poorly performing assets fall into two groups – foreign banks, those without any strategic interest to stay in Germany and most motivated to run down their loan book and retrench to the home market and after this the German banks.”

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.


Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join now!

  • Free unlimited access to's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including and

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.