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Top Performing Real Estate Funds as of November 2011

by Hayley Wong

  • 04 Nov 2011
  • RE

Preqin has performance data for 892 private real estate funds, and using this data we can analyse the top 20 performing real estate funds. To generate the list only real estate funds with vintages of 2008 and older are considered and the funds must have at least 50% of its capital invested. The main measure of performance is the net IRR and this metric is used to rank the funds in the list.

For the top 20 real estate funds, the vintages of the funds range between 1995 and 2008. RAR/CREL Investment Fund II has the oldest vintage of 1995 and is nineteenth in the list, while Fortress Credit Opportunities Fund has the more recent vintage of 2008 and is twentieth in the list. 

Narrowing the list down to the top 10 real estate funds, most of the vintages are between 2000 and 2005, where the oldest vintage is 1996. MSPA Acquisition and STAG Investments I (SCP Green) - both of 2004 vintage - have the highest and second highest net IRR respectively. The third highest net IRR is reported by Meridian a vintage 1996 vehicle. The first three real estate funds reported in this list all have a focus on real estate investments in the US.  Other real estate funds in this top 10 list, but with a focus on investments outside of the US, are Sveafastigheter Fund I, which is a vintage 2003 Nordic-focused fund, and Patria Brazil Real Estate Fund I, which is a 2005 vintage Brazil-focused fund. Both are ranked fourth and tenth respectively.

It is important to bear in mind that the positions of the funds generated in the list can change as performance of funds with active investments varies over time.

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