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This research grant was awarded in memory of the late Erwin Stouthamer who served on the INREV Management Board.

INREV, IPF and SPR have awarded the 2017 Nick Tyrrell Research Prize to Dr Avis Devine of the Schulich School of Business at York University, Toronto and Dr Erkan Yonder of Ozyegin University, Istanbul for their paper, ‘Decomposing the Value Effects of Sustainable Real Estate Investment: International Evidence’.

This research shows that non-listed real estate can add value to DC investment strategies. 

AREF and INREV commissioned a paper on the important topic of cost transparency. The aim is to move towards a better industry-wide understanding of the composition and calculation of selected fee and expense metrics.  

This research examined the significance of currency risk and its management for European non-listed real estate funds in a number of ways.

This INREV research underlines the benefits of secondary trading in non-listed real estate funds. 

This research explores whether there is evidence of persistent performance among core open end European non-listed real estate funds.

This research aims to identify risk factors affecting the performance of non-listed real estate funds in Europe, controlling for their specific characteristics.

The non-listed real estate industry has grown considerably over the last decade and with it the interests and needs of market participants. The research objective of this study is to examine the current status and the influence of corporate governance on the volatility and returns of non-listed real estate funds, and seeks to address the following questions:

• How has corporate governance for the non-listed industry changed over the last twenty years?
• How does corporate governance affect fund performance, risk, volatility and capital raising ability?