Global Definitions Database

Access, learn and discover all terms related to the non-listed real estate sector.

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Time-Weighted Return (TWR), investment level

Investment level TWRs reflect the performance of a single investment or group of investments, whether that investment is wholly-owned or a joint venture. Investment level TWRs differ from property level in that the full scope of the investment, including ownership level activity (use of working capital, owner expenses, etc.), is included in the calculation.

Source: NCREIF PREA | Date: 23 March 2020 | ID: D0189 | Version: 2