Cerberus Leads Buyers as Europe Trims Bad Property-Debt Pile

  • Outstanding bad loans drop by about 10% to 531 billion euros
  • Deutsche Bank, Apollo, Lone Star among biggest purchasers

Cerberus Capital Management LP was the biggest buyer of distressed real estate debt in Europe through the first nine months of the year, closing eight deals with an original face value of 7.69 billion euros ($8.6 billion), according to Cushman & Wakefield Inc.

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