REIT Mulls Euro CRE Opportunities

Anthracite Capital, New York, says it sees an opportunity in European commercial real estate lending that is in a "nascent stage," according to Richard Shea, president and chief operating officer of the real estate investment trust.At a recent Piper Jaffray Financial Services Conference in New York, Mr. Shea said Anthracite brings together capital markets expertise with loan underwriting and real estate expertise. He therefore sees a "great opportunity" for the commercial mortgage REIT to bring in a platform combining these two aspects of the European market, Mr. Shea said. While it may take awhile for Anthracite to sift through the opportunities, Mr. Shea said he expects significant growth in this area.