The European ODCE Index returned 0.83% in Q3 2025, up from 0.24% in the previous quarter. The total gross asset value (GAV) of the European ODCE Quarterly Fund Index stood at €41.8 billion at the end of Q3 2025.
Key highlights:
- After turning negative in the previous quarter, capital growth returned to positive territory again in Q3, with 0.08%.
- As of Q3 2025, the AEW EUROCORE fund is included in the INREV ODCE Index.
- At -€26.0 million, net flows turned negative in Q3 2025, down from €86.2 million reported in Q2 2025. INREV shed light on ODCE funds’ redemption mechanisms in a recently published paper.
- Allocations towards industrial / logistics keep growing, representing 32.9% of the index by real estate portfolio value.
- The one year rolling return stood at 3.56%, while the three and five year annualised returns were -4.40% and 0.12%, respectively.
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European ODCE Quarterly Index
Published on 18 Nov 2025
The Index is wholly comprised of open end core commingled equity real estate funds that have a strategy to invest across pan Europe and across multiple sectors. Funds must comply with a strict eligibility criteria for four consecutive quarters in a row to be included in the index.