The European ODCE Index returned 1.12% in Q4 2025, up from 0.83% in the previous quarter. The total gross asset value (GAV) of the European ODCE Quarterly Fund Index stood at €42.8 billion at the end of Q4 2025.
Key highlights:
- After turning positive in the previous quarter, capital growth increased by another 30 bps in Q4, to 0.37%.
- At €732.7 million at the ODCE Index level, net flows showed the highest figure since Q3 2022. INREV shed light on ODCE funds’ redemption mechanisms in a recently published paper.
- At 9.5%, Spain overtakes the UK (9.2%) as the fourth largest geographic allocation.
- The one year rolling return stood at 3.75%, while the three and five year annualised returns were -2.19% and 0.12%, respectively.
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European ODCE Quarterly Index
Published on 24 Feb 2026
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.