Europe's real estate debt market is starting to show the strain of high interest rates, with prices for riskier bonds falling sharply and a rare cancellation of a new junk-rated bond issuance. Net Zero Properties Sarl, a company that acquires overlooked apartments in Germany, abandoned its plan to borrow 500 million euros (approximately $574 million) after failing to convince investors to accept more favorable terms. Meanwhile, hybrid securities issued by landlords such as Aroundtown SA and CPI Property Group SA have also tumbled this month.