In Q1 2025, the INREV Vehicles Universe included 585 vehicles with a total gross asset value (GAV) of €483.5 billion.
- The traditional property sectors, industrial/logistics, office, residential and retail, account for 86% of the single sector vehicles in the Universe by GAV.
- In the most recent vintages, seven vehicles were launched in 2023, seven vehicles in 2024 and two have been added in 2025.
- 300 funds follow a single country strategy, of which 75% focus on the four main geographies. The Germany-focused funds have the largest representation in the Universe amongst single-country focused funds, at 35%.
- Residential represents 25% by number of all single sector vehicles, and it constitutes 30% by GAV.
The Q1 release of the INREV Vehicle Universe expanded with four new organisations and twelve new vehicles compared to the previous quarter, including the following:
- Alma Property Partners 2
- Alma Property Partners 3- Aquila Capital: Aquila Capital Southern European Logistics S.A. SICAV-RAIF
- AXA Investment Managers: AXA Real Estate Fund Switzerland
- Columbia Threadneedle Investments: Best Value Europe II FCP RAIF
- Stoneshield Investments Ltd: European Student Accommodation Core Fund
View detailed analysis via the INREV Vehicles Universe Analysis Tool or download the infographic below.
INREV Vehicles Universe - Direct Vehicles Europe
Published on 10 Jun 2025
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.