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Commercial Real Estate Finance Council Europe

Acronym: CREFC Europe

General Information

Identification Code: 050415314994-69
Website: [object Object]
Entity Form: Company limited by guarantee
Registration Category: Trade and business associations
Registration Date: 11/25/2014
Last Update: 8/14/2023
EP Accredited Number: 0

Mission & Interests

Goals: CREFC Europe is a not-for-profit membership association for those directly or indirectly interested in commercial real estate finance (CRE) in Europe or any part of Europe. Our purpose is to promote the interests of our members and others interested in CRE finance in Europe or any part of Europe and would qualify for membership, and the efficient, effective and sustainable operation of the CRE finance market, including through the capital markets, for the benefit of our members, market participants and the economy and society as a whole. We pursue those objects by: - facilitating collaboration, networking and the sharing of knowledge and ideas, and fostering dialogue within the sector and with external stakeholders; - advocating on behalf of the sector in the interests of an appropriate regulatory and policy environment; and - promoting good practice, including in the context of diversity and inclusion and the wider ESG agenda.
Interests Represented: Promotes their own interests or the collective interests of their members
Interests:
  • Banking and financial services
  • Climate action
  • Economy, finance and the euro
  • Environment
  • European neighbourhood policy
  • Single market
  • Taxation
Levels of Interest:
  • national
  • european

Activities

Main EU Legislative Proposals: Initiatives relating to the promotion of investment in the real economy, the financing of infrastructure (specifically commercial real estate) and the built environment, and long-term investment. We are particularly interested in elements of the Capital Markets Union, such as the revival of the securitisation market for exposures such as commercial mortgage-backed securities (CMBS) which have unfortunately been classified as irredeemably "non-STS" and therefore give rise to penal capital charges under the Solvency II SCR. Other financial sector regulation affecting commercial real estate lending, such as regulation of banks (e.g. via CRR implementing Basel III finalisation), insurers (the Solvency II SCR point mentioned above), and alternative investment fund managers investing in commercial real estate debt or advancing commercial real estate loans. We are interested in market data and transparency, including through efforts (such as by the ESRB) to define, understand, monitor and manage financial system risks arising from the commercial real estate (debt) market. We are increasingly focused on how commercial real estate finance markets can reflect and promote environmental, social and governance (ESG) considerations, including through 'green' lending to encourage the decarbonisation of the built environment, as well as improving the diversity and inclusiveness of our industry. ESG disclosures, SFDR, EU Taxonomy and similar initiatives are therefore of interest. We participated in the EEFIG working group on Energy Efficiency First in this context. A growing representation of passive debt investors and real estate investment firms in our membership is broadening and driving our agenda to ensure that the commercial real estate lending industry remains connected to the concerns of those two critical external stakeholder groups.
Communication Activities: Promoting greater transparency and liquidity in commercial real estate debt markets. Promoting strategic, holistic and informed through-the-cycle regulation of commercial real estate lending markets. In particular, promoting the recommendations of the Real Estate Finance Group, an independent real estate industry group in the UK, as set out in its May 2014 report, "A Vision for Real Estate Finance in the UK". Collaborating with other industry organisations, including through the UK Property Industry Alliance and the European Real Estate Forum, to improve understanding of the role of commercial real estate investment (equity and debt) in the European economy (including in socioeconomic terms), in relation to financial stability and from the point of view of investors. Generally, helping policymakers and financial regulators better understand commercial real estate finance markets, trends, drivers and risks. More broadly, ensuring that commercial real estate finance supports both the needs of passive debt investors who allocate capital to it, and the needs of the real estate firms that connect it to the real economy. We are interested in how the market will respond to a changing macroeconomic environment, with inflation affecting construction costs and interest rates affecting the cost of existing debt and its refinancing. We are keen to promote and enhance the role that banks and other lenders can play in financing decarbonisation in the built environment. We promote our priorities through the networking, informational and educational opportunities afforded by conferences, seminars and our young professionals network, and by organising industry initiatives involving working groups targeting particular issues, products and parts of the market. We do not have the resources for a lobbying operation in Brussels (or anywhere else for that matter), so as far as policymakers are concerned our activities relevantly take the form mainly of responding to public consultations. Occasionally we have bilateral or multilateral engagement with policymakers outside the parameters of such consultations.
Inter-institutional or Unofficial Groupings: N/A

Head Office

Address: 15 Westferry Circus
Post Code: E14 4HD
City: London
Country: UNITED KINGDOM
Phone: [object Object]

EU Office

Address: 15 Westferry Circus
Post Code: E14 4HD
City: London
Country: UNITED KINGDOM
Phone: [object Object]

Financial Data

New Organisation: false
Closed Year: [object Object]
Current Year: [object Object]

Membership Information

Members10 Percent: 0
Members25 Percent: 1
Members50 Percent: 0
Members75 Percent: 0
Members: 1
Members F T E: 0.25
Info Members: Our organisation has a small secretariat of around four FTE people, only two of whom engage in policy work at all, most of which has been oriented towards national issues in the UK and Ireland. We also have some access to additional consultancy support and of course to input from our members. 25% is almost certainly an overstatement, but 10% might be an understatement so we have left it at 25%.

Structure

Structure Type: Structure
Is Member Of: https://www.crefceurope.org/pages/member-directory
Organisation Members: We are a member of the European Real Estate Forum and of the UK Property Industry Alliance and Green Property Alliance, and sometimes collaborate with other associations whose interests and memberships overlap with our own on bilateral or multilateral bases. We are a sister organisation of the CRE Finance Council (which has a broadly similar remit to our own, but in relation to the USA).