More than €20bn of funds due to close over the next decade

More than €20bn of real estate assets will hit the market in the next 10 years as 92 European closed-end funds reach their termination, according to INREV’s Funds Termination Study 2018. The peak of activity is expected to be in 2022 when 22 funds are due to close, while 44 funds – with a combined AUM of €9.6bn – are set to be wound up between now and 2020. The UK represents half of single country funds that are scheduled for termination in 2019, which means next year the country could see €337.8m of assets released in the months before and after Brexit. In total, €2.1bn of UK assets could be brought to the market over the next three years. INREV also warned that retail-focused funds coming to the end of their lives outnumber all other sectors between now and 2020, at €5bn. Liquidation of these funds could lead to further pressure on retail at a difficult time for the sector. To send feedback, e-mail karl.tomusk@egi.co.uk or tweet @ktomusk or @estatesgazette