92 European closed end non-listed real estate funds to terminate over next 10 years. : More than €20bn of real estate assets are expected to be released back into the market, over the next 10 years, as funds reach their end of life according to a report. The latest Funds Termination Study 2018 published by real estate associations INREV shows that 92 European closed end non-listed real estate funds are set to terminate over the next decade. Between 2018 and 2020, 44 funds with a combined assets under management of €9.6bn are due to close.