Press Releases

Debt vehicles deliver robust performance. Investors and managers target multi-country and senior debt strategies 17 November 2020, Amsterdam – Non-listed real estate debt products continue to attract attention from institutional investors and investment managers, with a record high of €32 billion raised globally in 2019, according to the INREV Debt Vehicles Universe 2020 study*. This reflects a strong uptick in demand for non-listed real estate debt, representing a circa 50% increase on the 2018 results and is significantly higher than...

Costs vary according to vehicle characteristics 07 October 2020, Amsterdam – The latest INREV Management Fees & Terms Study 2020 reflects a broadly consistent level of fees and costs faced by investors in European non-listed real estate vehicles, compared with the previous study published two years ago. Average Total Expense Ratio (TER) for all vehicles based on gross asset value (GAV) before performance fees was 0.87% (as reported for 2019), versus 0.86% reported for 2017.However, a cross-sectional review of the...

Conditions harden but investors and managers adjust to new reality 23 September 2020, Amsterdam – The recent INREV Quarterly Asset Level Index reveals a dip in performance for the second consecutive quarter, tipping total returns into negative territory for the first time – down from 0.50% in Q1 to -0.33% in Q2. This represents the lowest performance tracked by the index since its inception in Q1 2014 and reflects continuing downward pressure from the COVID-19 pandemic on the European non-listed...

Investors and managers pivoting towards space as a service 23 September 2020, Amsterdam – Recent research from INREV, the European association for investors in non-listed real estate vehicles, explores the risk characteristics of the evolving operational real estate investment sectors in Europe and points to an anticipated rise in interest from investors and managers. The research paper entitled Operational Real Estate – Real Asset or Real Economy? identifies an emerging shift in thinking within the real estate industry. This is...

INREV, the European Association for Investors in Non-listed Real Estate Vehicles, has appointed Iryna Pylypchuk as the new Director of Research and Market Information.

Market participants display cautious approach to the future outlook 8 July 2020, Amsterdam – Results from the INREV Quarterly Index for the first quarter of 2020 reveal initial signs of the negative effects of the COVID-19 pandemic on the European real estate industry, with the lowest quarterly performance since Q4 2012. Total real estate returns dipped to 0.22% from 1.80% over the previous quarter, with capital growth slipping from 0.37% to -0.47% and distributed income falling from 1.43% to 0.68%...

Leading five managers exceed €100 billion each, while others rise up the rankings 03 June 2020, Amsterdam – Total global real estate assets under management (AUM) hit a record €3.2 trillion at the end of 2019, according to the Fund Manager Survey 2020, published today by ANREV, INREV and NCREIF. This year’s results reflect a sizeable rise of 15.7% on 2018’s tally of €2.8 trillion, despite the fact that a number of managers were unable to respond to the survey...

New Memorandum of Understanding will enhance collaboration and harmonisation across the non-listed real estate industry globally. 12 May 2020, Amsterdam – INREV, ANREV and NCREIF have signed a Global Alliance Memorandum of Understanding (MoU) to advance the global agenda of transparency, accessibility and professionalism and increase harmonisation across the non-listed real estate industry. The alliance brings together the major industry bodies of Europe, Asia Pacific and the US. The MoU demonstrates the commitment of the European, Asian and US markets...

Money-weighted metric for closed end funds provides better comparability with other asset classes