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New IRR Index

On the back of high demand from our members, INREV is proud to present the INREV Internal Rate of Return (IRR) Index.

This first release of the IRR Index includes 191 closed end vehicles across vintages from pre-2002 to 2017. The Index measures the since inception internal rate of return performance of European closed end non-listed real estate vehicles. 

Performance is measured net of fees and costs, and is computed on both a pooled return basis and an equally weighted basis.

Key highlights of the INREV IRR Index for Q4 2017 include: 

  • Younger vintage vehicles, those with a year of first close between 2014 and 2016, delivered the highest performance with a pooled IRR of 16.9% and an equally weighted IRR of 16.1%
  • Vehicles that had their first close between 2005 and 2007 were the weakest performers overall, delivering an IRR of 0.3% on a pooled basis
  • Non-core strategies outperformed core for vehicles which had their first close between 2011 and 2016

INREV would like to thank all members who have participated in the Historical Data project and provided complete information since the inception of their vehicle which has enabled the release of this index.

Download the snapshot, full report and excel. 


Related Information

Press release - INREV to launch internal rate of return performance measurement index

11 April 2018, Dublin – INREV is to introduce a new Internal Rate of return (IRR) Index that will enable investors in European non-listed real estate to better compare their real estate investments with those they have in other asset classes. Read more