Aareal Reduces Non-Performing US Office Loans by €500 Million
The Aareal Bank headquarters in Wiesbaden, Germany.
Photographer: Alex Kraus/BloombergThis article is for subscribers only.
Aareal Bank AG said it reduced the volume of non-performing US office loans by about €500 million ($543 million) as it moves to contain the fallout from deteriorating real estate markets.
The reductions took place in the first quarter, a spokeswoman said in response to a Bloomberg query. She declined to provide any details on the measures taken by the German real estate lender.