The number of European non-listed real estate vehicles included in the INREV Vehicles Universe reached 520 in Q4 2020, with 12 new vehicles added since Q3. Collectively they represent a total net asset value (NAV) of €283.2 billion and gross asset value (GAV) of €372.5 billion.
- By size, open end vehicles dominate the Universe, comprising 81.0% of the total NAV. Closed end vehicles, on the other hand, are larger by number, with 284 vehicles out of 520 in total.
- By number, vehicles with core strategy make up more than two thirds (356) of the Universe. The non-core segment comprises 110 value-added vehicles and 54 with an opportunistic strategy. Core vehicles tend to be almost five times larger than the average peer with a non-core strategy.
- A single country investment strategy dominates in terms of the number of vehicles, with 266 vehicles or 51.2% of the Universe. Although, these funds are on average on average, 30.0% smaller than their multi country pears when measured by GAV.
View detailed analysis via the INREV Vehicles Universe Analysis Tool or download the PDF and Excel below
INREV releases a quarterly overview of the key characteristics of all non-listed real estate vehicles in Europe. The data is taken from INREV's vehicles database.