000			01378cab a2200205 4500
001			##L133067
008			060407n2006 000 0 eng u
035			_a(Sirsi) u133067
041	0		_aeng
100	1		_aPitschke, Christoph
245	0	4	_aThe impact of the New Basel Capital Accord on real estate developers
260			_c2006
490		0	_aJournal of Property Investment and Finance _v24(1) 2006, 7-49(43)
520			_aExamines the impact of the New Basel Capital Accord (Basel 2) on the future pricing and availability of debt capital and on the cost of capital in real estate financing and to present possible reactions for real estate developers. Concludes that the availability and pricing of debt capital will be risk-adjusted and will depend on the amount of regulatory equity banks will have to hold in reserve for a credit engagement. The cost of debt capital in real estate financing will rise due to systemic reasons deriving from Basel 2. Banks are and will remain very restrictive with regard to credit allowances, and use of the positive leverage effect will become more difficult. Structured financing, in particular the use of private equity, is the best way to fill a potential financing gap.
590			_aIKA110406
650	2	4	_aBASEL ACCORD
690			_aPROPERTY-PROPERTY FINANCE AND INVESTMENT
700	1		_aBone-Winkel, Stephan
942			_n0
999			_c76786 _d76786