German institutional investors are increasingly switching billions of euros invested directly in real estate into property funds, the association representing investors in non-listed real estate funds Inrev said on Tuesday. 'It is clear that a major trend is underway with German insurers and pension funds increasingly choosing to invest indirectly in real estate though non-listed funds rather than directly in buildings, both abroad and also in their home market,' said Georg Allendorf, managing director at RREEF Alternatives in Germany and vice-chairman of Inrev's management board.
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