Standards

INREV professional standards enable consistency, allow peer-to-peer comparisons and promote market transparency. We are focused on creating an entirely transparent, competitive, efficient and sustainable industry by setting the benchmark for corporate governance, sustainability, accounting and reporting.

Global
As part of INREV’s efforts to align the non-listed real estate industry globally, INREV, ANREV, NCREIF and PREA are working together to create global standards to align the three regions of Europe, North America and Asia Pacific. The Global Definitions Database (GGD) is a common glossary of non-listed real estate terms, aligning the INREV Guidelines (Europe) with NCREIF PREA Reporting Standards (US) and ANREV definitions.

INREV Guidelines
The INREV Guidelines set the standard for the non-listed real estate industry in Europe and Asia Pacific. They are divided into 9 modules covering best practice for investor reporting, corporate governance structures, valuation, liquidity and more.

Several key tools that support the use of the INREV Guidelines include: Due Diligence Questionnaire (DDQ), Standard Data Delivery Sheet (SDDS), Assessments, and the Global Definitions Database (GGD).

Assessments
The Assessments allow fund managers to self-assess their vehicles’ compliance with 6 of the INREV Guidelines’ 9 modules. Vehicles receive a score which can be shared with investors and used for peer-to-peer comparison.

Sustainability
INREV Sustainability Best Practice Guidelines for sustainability reporting include industry crossover between GRESB, GRI, EPRA and INREV.

The Global ESG Library is an interactive library including reports and case studies from our members that illustrate best practice worldwide.

The INREV Guidelines provide a sound basis for consistent and detailed information exchange and reporting to investors. The Guidelines are organised into nine modules and six have assessments.

INREV Guidelines Assessments

INREV Guidelines Modules

Good corporate governance is key to the success and profitability of your business. Corporate governance means the structure, processes, policies and laws that determine how an investment vehicle is managed and controlled.

Clear reporting is essential for maintaining good communications between investors and managers. The Reporting module sets the standard for the transparent investment vehicle and forms the backbone of the INREV Guidelines.

The Property Valuation module promotes best practices for valuation and aims to foster a common approach to the appraisal process. Estimates of market or fair value that follow these guidelines are based on building blocks that allow for clear and full disclosure.

Consistency in performance measurement is essential to achieving greater comparison. The module provides a standardised calculation methodology and allows investors to benchmark investment vehicles.

The INREV NAV improves transparency and comparability of performance across different types of investment vehicles by providing a standard for calculating NAV.

The Fee & Expense Metrics help investors and managers to compare fees and cost structures and explain the calculation of TER and REER.

The Liquidity module promotes best practices and governance in the area of liquidity rights, to make subscription, redemption and pricing mechanisms more transparent.

Up-to-date vehicle data is essential to increase transparency, reduce investment barriers and promote a mature and accessible investment branch. These standard requirements and best practices for data delivery align investors’ and managers’ interests worldwide.

The Code aims to achieve a shared vision on tax matters for the non-listed real estate investment industry

tel: +31 (0)20 235 8616

constantin.sorlescu@inrev.org

Our library includes dozens of publications from INREV Professional Standards, including snapshots (publicly available) and full reports (members only). These include liquidity, reporting, fees and other topics.

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INREV and ANREV have merged their libraries of ESG-related resources together to form a shared Global ESG Library for the non-listed real estate industry. Through the Global ESG Library, members will be enabled with robust and evolving depository of featured reports, papers, and case studies ranging from a variety of geographic locations (most notably Europe, and Asia Pacific).

Global ESG Library

The INREV Sustainability Best Practice guidelines highlight best practice for sustainability reporting, providing industry crossover between GRESB, GRI, EPRA and INREV.
Best practice Video

The INREV Quarterly Magazine is the magazine of the non-listed real estate industry. Each quarter we publish articles on our Professional Standards activities.

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INREV Professional Standards are largely the result of several committees dedicated to constantly updating and improving our guidelines and standards. These include committees for Due Diligence, Reporting, Secondary Markets and Liquidity and ESG.

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Several INREV studies have been conducted by the Research and Professional Standards teams on Liquidity and Secondary Trading.

Standards

Conclusion paper of the Open End Fund Pricing Consultation- phase 2

Are you prepared for SFDR?

Are you ready for the Sustainable Finance Disclosure Regulation (SFDR) ?

Code of Tax Conduct ninth module in the INREV Guidelines

INREV Guidelines

INREV Guidelines Modules

Corporate Governance

Reporting

Property Valuation

Performance Measurement

INREV NAV

Fee and Expense Metrics

Liquidity

INREV Data Delivery

Code of Tax Conduct

Due Diligence Questionnaire (DDQ)

Standard Data Delivery Sheet (SDDS)

Global Definitions Database (GDD)

Global Standards

Questions about Standards?

Constantin Sorlescu

Related Information

Standards publications

ESG - best practice and library

IQ Magazine - Standards articles

Committees

Liquidity and Secondary Trading

INREV Guidelines Modules

Top Tools

Global