Press Releases

A total of 47 European non-listed real estate funds are scheduled to terminate between now and 2019, returning a potential €8.5 billion to the market, according to new research from INREV, the European Association for investors in Non-Listed Real Estate Vehicles. The Funds Termination Study 2017 also found that, for the first time in four years, extension has overtaken liquidation as the preferred strategy when it comes to termination decisions.

INREV, ANREV, NCREIF and PREA are pleased to jointly unveil the Global Definitions Database (GDD). The GDD represents one unique depository of definitions comprising of real estate market related terms. A common glossary of terms is a critical step towards convergence of reporting standards for institutional real estate investment vehicles and creates a one-stop resource that has not existed until now.

The total value of real estate assets under management (AUM) reached €2.4 trillion in 2016, up 20.1% on the €2 trillion peak achieved the previous year, based on an increase in the sample size of the global Fund Manager Survey 2017. The joint report by INREV, ANREV and NCREIF, also revealed significant growth in the average AUM of the top 50 global real estate fund managers with a 14.9% uplift from €35.6 billion in 2015 to €40.8 billion.

The Netherlands posted the strongest non-listed real estate performance on record with total returns of 14%, according to the INREV Annual Index 2017. Despite this boost, annual returns across Europe dropped to 6.0% in 2016 from a nine-year high of 9.7% in the previous year. Much of the fall was driven by weaker performance in Q2 and Q3 which stemmed from much lower valuations in the UK during the turmoil of a Brexit referendum.

Marieke van Kamp,has been announced today as INREV’s new Chairman at the association’s Annual Conference in Berlin. As Head of Private Markets at NN Group, Van Kamp is responsible for the real estate, private equity and private loan portfolios of the NN insurance companies. NN Group is a leading Dutch insurance and investment management company that was created out of the ING Group, active in 18 countries.

INREV has announced that its CEO, Matthias Thomas, will be leaving the association in the autumn. Thomas, joined INREV as CEO in August 2010, and since then has continued to expand the association’s remit, introducing several key new initiatives, including focused public affairs; a global research agenda; and an expansion of the performance indices to add both quarterly and global indices. Over the past seven years, he has overseen the successful development and growth of INREV, which has seen corporate membership numbers reach 396 currently.

More than four fifths of fund managers raised capital for deployment through non-listed real estate vehicles in 2016, with investors committing a total of €122 billion – a modest 1.4% decrease on the previous year.

A minimum of €52.6 billion of capital is expected to be invested in global real estate during 2017. This represents a total average target allocation of 11.5% for investors - a gain of 1.5% from current allocations. These results from the global Investment Intentions Survey 2017, published today by INREV, ANREV and PREA, underline a continuing strong appetite for real estate among institutional investors, despite continuing global economic and geopolitical uncertainty.

14 December 2016, Amsterdam – Nearly 25% of European funds have experienced secondary trading, according to recent research published by INREV. The Secondary Trading and Liquidity Study reveals that secondary trading in both open end and closed end funds has become an established part of the overall real estate investment landscape, as opposed to a marginal activity. The market in secondary trading of units in non-listed real estate funds was worth around €9 billion in 2015. Between €2 billion and...