Banks cling on to distressed industrial assets

摘要

For the past 18 months investors have been waiting for banks to flood the market with distressed industrial schemes. In the depths of the slump, many debt-backed investors in industrial property breached their banking covenants. Much of that property ended up in the hands of their bankers. Meanwhile, multi-tenanted industrial estates, with their steady income, lack of exposure to a single occupier and scope for generating value, have risen in popularity. "They are top of the shopping list for institutions," says GVA investment head Mark Beaumont.