With the popularity of the Asia Pacific non-listed real estate market continuing to increase, it is timely to assess how much capital is entering the market and what this figure represents on a global basis.

The Capital Raising Survey was first launched in 2014. This survey gives an insight into capital raising activities within the non-listed real estate industry by region, product type and investment strategy. The non-listed real estate products include separate accounts, joint ventures, club deals, funds of funds and non-listed real estate debt products. The report offers detailed insights into global and regional capital raising figures.

This year's survey attracted the participation of 83 fund managers from 19 countries across Asia Pacific, Europe and North American with a minimum of US$129 billion of new equity raised for investments into non-listed real estate.

The Asia Pacific region attracted US$19 billion of new capital.

ANREV, INREV and NCREIF are pleased to present the latest in a series of quarterly snapshots of what’s happening in the global real estate investment market.

In this short two-page snapshot, the Global Research Committee shares their views of the global macroeconomic and property market landscape, drawing on data and insights from recent global indices and global surveys jointly conducted by all three associations.

Key highlights from February 2024 include:

Real estate allocations are set to rise for investors in the Asia-Pacific and North American regions, while witnessing a downward trend among European investors

The GREFI All Funds Index reports that global returns have improved slightly in Q3 2023, though they remain in negative territory

Greater liquidity and richer clarity on pricing are key prerequisites for the eventual recovery of the market

ANREV is pleased to present the results of the Investment Intentions Survey 2024 with a specific focus on non-listed real estate funds. The survey was conducted in conjunction with the European Association for Investors in Non-listed Real Estate Vehicles (INREV) and the Pension Real Estate Association (PREA). By joining the forces of all three organizations, the survey is able to present a truly global view on expected trends and investment intentions within the real estate industry. This is the sixteenth edition of the regional survey which attracted 90 respondents: 85 investors (94%), and 5 funds of funds managers (6%).

Chapter 1 explores global real estate allocations, providing insight into investment trends globally and is based on the full sample of respondents. This is a common section that can also be found in the INREV and PREA 2024 Investment Intentions reports.

Chapter 2 focus on the Asia Pacific real estate market, including insights on preferred structures, markets, sectors, styles and trends. This chapter is based only on those investors and fund of fund managers who are already investing in the Asia Pacific market or intend to do so in the next two years.

The ANREV Management fees and terms study explores fees and costs structures of Asia Pacific non-listed real estate funds with a focus on the Total Global Expense ratios (TGERs) and real estate expense ratios (REERs).

This includes 34 vehicles managed by 20 managers that submitted their 2022 TGERs representing a combined total GAV of US$100.7 billion. Of the 34 vehicles which provided data for their TGERs, 20 vehicles provided data on their 2022 REERs.

ANREV, INREV and NCREIF are pleased to present the latest in a series of quarterly snapshots of what’s happening in the global real estate investment market.

In this short two-page snapshot, the Global Research Committee shares their views of the global macroeconomic and property market landscape, drawing on data and insights from recent global indices and global surveys jointly conducted by all three associations.

Key highlights from November 2023 include:

Diverse market fundamentals result in valuation correction occurring at differing rates across and within regions

Average gearing in GREFI funds experienced an uptick, but remains well below GFC levels

Increasing demand for refinancing options is expected to create opportunities for alternative lenders

This ANREV Vehicles Universe document provides data on 407 vehicles with a total gross asset value (GAV) of US$ 337.9 billion as of Q2 2023. Data on 268 vehicles (total GAV US$193.5 billion) was extracted from the ANREV Vehicles Database. Data on the remaining 139 vehicles came from secondary sources.

If you have any questions, please contact Cheng Wee Tan or Donald Lam.

ANREV, INREV and NCREIF are pleased to present a series of quarterly snapshots on what’s happening in the global real estate investment market.

In this short two-page snapshot, the Global Research Committee will share their views and paint a picture of the global landscape drawing on data and insights from recent global indices and global surveys, conducted by all three associations.

Key highlights July 2023 include:

Rising risk free rates heightened risk aversion in real estate markets, valuation and price discovery uncertainty persists

Office and retail sectors are seeing weakness, albeit resilient larger economies are giving support to industrial sector

As of Q1 2023, the Global ODCE index total return marked the third consecutive quarter of negative performance