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Study shows more European property funds defer liquidation

Posted on 09 October 2008

From Reuters: More unlisted European property funds aim to extend planned expiry dates to avoid selling assets into freefalling property markets, a study by industry body INREV showed. INREV’s Fund Termination Study 2008 showed almost 60 percent of real estate funds due to wind up in 2008-2010 are set to be extended in an attempt to protect returns until investor demand for property recovers.

Just 29 percent of funds due to wind up in 2008-2010 plan to liquidate when originally planned, compared with 52 percent of funds in 2007, the report showed. “Currently, the flexibility of a one-to-two year extension is attractive from a timing standpoint as it delays the need to decide whether to sell assets into a market where capital values are falling,” Andrea Carpenter, INREV Research director said….. Full Article: Source


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