U.K. banks are among the most heavily exposed in Europe to a debt refinancing shortfall in the real estate market that could reach $155 billion in the next two years, forcing them to consider alternative ways of managing their portfolios, experts said.

Commercial property adviser, DTZ Holdings PLC, said that 56% of the European debt funding gap — which is the difference between existing debt and the debt available to replace it — is estimated to be in only two countries: the U.K. and Spain, while France, Germany, Italy and Ireland account for a further 28%.

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