Not all debt funds are the same, which is why the question in the heading cannot be answered with a straight "yes" or "no", but in theory the initial answer is "both".The question as to whether debt funds can be used as an alternative or in addition to bank loans is being asked primarily as a result of changes in the regulatory environment.

Read full article, Real Estate Finance Intelligence Report Europe, No. 120, Guest column, 1 May 2014: