Investment research can utilize NCREIF data and analytical tools to support more informed decisions about real estate investment strategy, portfolio construction and asset positioning.
- Mark Roberts, Managing Director, Global Head of Research and Strategy, Deutsche Asset Management Alternatives Real Assets
Facilitating commercial real estate research is central to NCREIF’s mission as its provision of data products and analytical tools to the investment and academic community allows for improved understanding of the performance of this asset class. NCREIF supports the investment community with guidance on using its detailed property database and portfolio of fund indices to further thought leadership in the industry. Academics are encouraged to utilize NCREIF information to advance real estate research literature.
Until now, no method has been capable of identifying the implied cash flows and the related PME IRR. As a result, it is impossible to know which method is correct or the most accurate. This article solves the dilemma, provides a solution and the missing link for private equity benchmarking. It is now possible to identify the correct IRR spread as well as the public market equivalent portfolio implied cash flows and the related PME IRR.
Published Date: Apr 11, 2018Jeffrey D. Fisher, Ph.D., NCREIF Senior Consultant. Published in the Fourth Quarter 2017 NCREIF Performance Report
Published Date: Dec 31, 2017Joanna M. Stimpson, Research Director, GID Investment Advisers LLC. Published in the Fourth Quarter 2017 NCREIF Performance Report.
Published Date: Dec 31, 2017Vikram Mehra, Director, Chief Operating Officer of Real Estate Americas - Alternatives, Deutsche Asset Management. Published in the Fourth Quarter 2017 NCREIF Performance Report.
Published Date: Dec 31, 2017Carlos Ortea, Assistant Vice President, Research, Bentall Kennedy. Published in the Fourth Quarter 2017 NCREIF Performance Report.
Published Date: Dec 31, 2017Daniel J. Radek, Co-President, First Washington Realty, Inc. Published in the Fourth Quarter 2017 NCREIF Performance Report.
Published Date: Dec 31, 2017Working paper. An empirical examination, based on the 17-year period examined, indicates that the net investment returns from indices of value-add and opportunistic funds have – on a risk-adjusted Basis – under-performed the net returns available from an index of core funds. Author Joseph L. Pagliari, University of Chicago Booth School of Business.
Published Date: Sep 06, 2016This paper introduces three new and refined series derived from NCREIF property data: the Market Value Index (MVI), Free Cash Flow Yield (FCFY), and Capital Expense Ratio (CXR). While the NPI was designed to measure the risk and returns of the real estate asset class, these series optimize the property-level data in the NCREIF database to provide better indications of real estate value changes and operating performance. Authors Michael S. Young, Jeffrey D. Fisher, and Joseph D’Alessandro.
Published Date: Aug 28, 2016This RERI funded paper tests the hypothesis that investors’ ex ante discount rates help predict ex post investment returns and ex post investment risk. Author Liang Peng.
Published Date: Feb 01, 2016This RERI funded paper builds on existing methods to estimate abnormal performance of real estate assets from cash flows to strengthen the position that open-end core real estate funds earn high returns. Authors Jin Man Lee, James D. Shilling, and Charles Wurtzebach.
Published Date: Jan 01, 2016