Investors Seek to Pull $20 Billion From Core Real Estate Funds
JPMorgan and Morgan Stanley are among fund managers facing withdrawal requests as property values decline.
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Some of the biggest investors in US commercial real estate are looking to cash in before property values slide further.
A group of property funds for institutional investors ended last year with $20 billion in withdrawal requests, the biggest waiting line since the Great Recession, according to IDR Investment Management, which tracks an index of the open-end diversified core equity funds.