Up to €52bn (£36bn) equity was raised by the European non-listed real estate industry last year, according to INREV.
INREV, which is holding its annual conference in Rome today, said pension fund provided 40% of the total capital raised, followed by life insurance companies, banks, co-investing managers and government bodies.
Some 20 different nationalities of investors put equity into the market.
The two biggest groups were the Dutch and Germans, at around 20% each.
Some 10% of the equity entering the market came from outside Europe, mainly from the US.
Most of the equity is invested in single-country funds, with France being the favourite destination.
INREV chief executive Lisette van Doorn, said: “The non-listed real estate industry attracted an extraordinary volume of capital during 2005 and we are not seeing any evidence of this slowing at the moment.
“It is particularly interesting to examine where the capital has been sourced and to note that an increasing number of investors are investing cross border and that non-European investors are extending their foothold in Europe.”
References: EGi News 28/04/06
