Trapped French Property Investors Find an Exit, at a Price

As a growing number of French property funds freeze withdrawals in the face of a client exodus that’s overwhelmed their cash buffers, the true cost of liquidity is becoming clearer.

After halting redemptions earlier this year, a fund managed by Praemia REIM France has begun allowing investors to offer their shares on a secondary market, matching buyers and sellers. The initial trades show the high price some shareholders are willing to pay to get their money back.