Real-estate funds in the U.S. and Europe are struggling to meet a surge in investor requests to get their cash back, a sign of mounting concerns about the viability of retail properties in the e-commerce era.
The latest to come under duress: UBS Group AG’s flagship real estate fund, which has raised about $25 billion and owns malls across the U.S. Investors are waiting to withdraw about $7 billion from the bank’s Trumbull Property Fund after it underperformed for an extended period, according to a person familiar with the matter who asked not to be identified because the details are private. . . . more