This has resulted in tighter margins and heightened competition as core lenders and new entrants vie for a limited pool of deals.

“There is a more aggressive pursuit of opportunities among lenders,” says Brad Greenway, Co-Head of Debt and Structured Finance, JLL EMEA. "The European debt market is witnessing a tightening of competition, with margins as tight as the low 100s on core financings across Europe and mid-100s in the UK.”