European property funds face redemption reckoning as $20b gets pulled

After trying and failing to sell office buildings from Paris to Frankfurt, Amundi SA is finally nearing a sizeable disposal that will help raise cash for investors who want out of its property funds.

Blackstone has agreed to buy a group of business parks for €250 million ($420 million) to €300 million from Europe’s largest asset manager. The US investment firm is betting some will have a more profitable future once they’re turned into dedicated logistics facilities.

Bloomberg