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Average vehicle size continues to increase

The number of European non-listed real estate vehicles included in the INREV Vehicles Universe reached 505 during Q1 2020. The INREV Vehicles Universe currently includes 497 funds, 7 separate accounts and 1 club deal. Collectively they represent total net asset value (NAV) of €275.6 billion and gross asset value (GAV) of €359.5 billion, according to the INREV Vehicles Universe Q1 2020. 

Key highlights of INREV Vehicles Universe Q1 2020: 

  • The average NAV of open end vehicles is close to €1 billion, almost six times larger than the average closed end vehicle.
  • By size, open end vehicles dominate the Universe, comprising 83.1% of total NAV. 
  • More than two thirds, 67.5% of the 505 vehicles are core in strategy, while the remaining vehicles – 109 value added and 55 opportunity represent 32.5% of the universe. 

View detailed analysis via the INREV Vehicles Universe Analysis Tool or download the PDF and Excel below

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