---
title: "Qualitas (ASX: QAL): Banks Are Retreating From Real Estate — Who's Stepping In?"
description: "Qualitas (ASX: QAL) Group Managing Director Andrew Schwartz joins Homodeus Research to explain why banks are structurally retreating from real estate financing — and how Qualitas is stepping into that gap, at home and now in Europe. In this Sharewise investor webinar, Andrew and host Wei (Homodeus Research) cover: 0:00 Introduction [chapters inserted below] Qualitas is one of Australia's leading real estate alternative investment managers, with $10.9 billion in funds under management and $40 billion in real estate assets financed over an 18-year track record. This conversation covers: How the business performed through 13 consecutive rate hikes, and why the model works across both rising and falling rate environments Why more than 90% of Qualitas' committed FUM sits in closed-ended or listed structures The recent acquisition of Starz, giving Qualitas its first European platform in a market five times the size of Australia's Qualitas' proprietary AI-enabled credit execution platform and how it supports the group's upgraded margin target What recent Federal Budget changes to negative gearing and CGT mean for real estate private credit How institutional investors are re-rating Australia as a destination for real estate credit capital Qualitas' risk management approach and portfolio stress-testing assumptions IMPORTANT: This discussion took place during Qualitas' results blackout period. All statements referenced information already publicly disclosed to the ASX, including the Macquarie Australia Conference presentation (5 May 2026), the European expansion announcement (12 June 2026), and the AI initiatives update (26 June 2026). No new financial or performance information was provided, and nothing in this video constitutes financial product advice. 🔗 Learn more: qualitas.com.au 🔗 Homodeus Research: homodeus.one DISCLAIMER: This content has been produced by Homodeus Research (homodeus.one), a Corporate Authorised Representative of Sharewise Pty Ltd (AFSL 280420), under an issuer-pays research model. Qualitas is a current or prospective client of Sharewise/Homodeus Research. This is general information only and does not constitute personal financial product advice. It does not take into account your objectives, financial situation, or needs. Homodeus Research and its representatives may receive fees from companies covered. Full disclosures at homodeus.one. #Qualitas #ASX #QAL #RealEstateInvesting #PrivateCredit #InvestorWebinar #ASXstocks #AustralianShares"
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markdown_url: "https://homodeus.one/research/videos/nAD0DQ3l8Gw.md"
published_date: "2026-07-13T01:40:56+00:00"
modified_date: "2026-08-21T08:45:33.139Z"
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---

# Qualitas (ASX: QAL): Banks Are Retreating From Real Estate — Who's Stepping In?

Published 2026-07-13T01:40:56+00:00.

Qualitas (ASX: QAL) Group Managing Director Andrew Schwartz joins Homodeus Research to explain why banks are structurally retreating from real estate financing — and how Qualitas is stepping into that gap, at home and now in Europe.

In this Sharewise investor webinar, Andrew and host Wei (Homodeus Research) cover:
0:00 Introduction
[chapters inserted below]

Qualitas is one of Australia's leading real estate alternative investment managers, with $10.9 billion in funds under management and $40 billion in real estate assets financed over an 18-year track record. This conversation covers:

How the business performed through 13 consecutive rate hikes, and why the model works across both rising and falling rate environments
Why more than 90% of Qualitas' committed FUM sits in closed-ended or listed structures
The recent acquisition of Starz, giving Qualitas its first European platform in a market five times the size of Australia's
Qualitas' proprietary AI-enabled credit execution platform and how it supports the group's upgraded margin target
What recent Federal Budget changes to negative gearing and CGT mean for real estate private credit
How institutional investors are re-rating Australia as a destination for real estate credit capital
Qualitas' risk management approach and portfolio stress-testing assumptions

IMPORTANT: This discussion took place during Qualitas' results blackout period. All statements referenced information already publicly disclosed to the ASX, including the Macquarie Australia Conference presentation (5 May 2026), the European expansion announcement (12 June 2026), and the AI initiatives update (26 June 2026). No new financial or performance information was provided, and nothing in this video constitutes financial product advice.

🔗 Learn more: qualitas.com.au
🔗 Homodeus Research: homodeus.one

DISCLAIMER: This content has been produced by Homodeus Research (homodeus.one), a Corporate Authorised Representative of Sharewise Pty Ltd (AFSL 280420), under an issuer-pays research model. Qualitas is a current or prospective client of Sharewise/Homodeus Research. This is general information only and does not constitute personal financial product advice. It does not take into account your objectives, financial situation, or needs. Homodeus Research and its representatives may receive fees from companies covered. Full disclosures at homodeus.one.

#Qualitas #ASX #QAL #RealEstateInvesting #PrivateCredit #InvestorWebinar #ASXstocks #AustralianShares

Watch: https://www.youtube.com/watch?v=nAD0DQ3l8Gw