Thirty four European closed ended, non-listed real estate funds will terminate between 2022 and 2024. As a result, €9.61 bn of gross asset value (GAV) could be pumped back into the market.
That’s according to trade body Inrev, which said the majority of the funds (15) totalling €2.4 bn of assets planned to terminate by the end of this year.
Six worth €1.41 bn plan to end in 2013, and 13 worth €5.74 bn in 2024.
This compares with a similar figure of just over €10 bn identified for 2021 to 2023, in last year’s study.
The average performance returns of the terminating funds hit 6.0% in 2021, up from a low of -2.7% in 2020, reflecting the strong uptick in performance of European non-listed real estate last year.
