Investors have withdrawn over €12 billion from European property funds, signaling a significant shift in the market. This mass exodus is putting immense pressure on property funds to meet investor redemptions.

Amundi, a major player in the investment management sector, is close to finalizing a deal to sell business parks to Blackstone for €250-300 million. This transaction underscores the challenges and transformations currently facing the European real estate market.

The sale to Blackstone highlights the critical dilemma open-ended property funds are encountering, particularly as office spaces fall out of favor. The European real estate market is undergoing significant changes, driven by shifting investor preferences and market dynamics.

This situation reflects broader trends and pressures within the industry, as property funds strive to adapt to new market realities and investor demands. The deal between Amundi and Blackstone is a key example of how major players are navigating these turbulent times.