As private equity real estate firms canvas Europe for investment opportunities, could the stadiums of the World Cup be that far behind? Though Germany has attracted substantial interest from private equity real estate firms in recent years, it will be the 12 stadiums pictured below that will attract most of the attention from foreign visitors over the next 30 days. But when the crowds go home, could private equity investors swoop in? Given the level of resentment directed towards the influx of foreign capital into German state-owned housing, that could be difficult—if there is one thing Europeans prize more than the roof over their own heads, it is the roof over the heads of their favorite soccer team. But one never knows. Colony Capital recently acquired the French soccer team Paris St. Germain, hedge funds backed the takeover of Manchester United last year, and the revered Arsenal soccer stadium in north London is now being converted into luxury apartments.