EconPapers    
Economics at your fingertips  
 

Performance and Cash Flow Drivers of Private Real Estate Funds

Kieran Farrelly and Simon Stevenson

ERES from European Real Estate Society (ERES)

Abstract: This study makes use of a unique dataset of predominantly US and global closed-ended unlisted real estate funds to investigate their performance characteristics. The sample covers multiple vintage years and includes a number of fund specific features. These are used to identify the key performance drivers of these vehicles through cross-section regression analysis. Particular attention is paid to the study of the performance persistence of managers. We also are able to make use of detailed cashflow histories for a number of the funds. This enables us to explore the investment timing abilities of fund managers and the determinants of both capital drawdown and distribution rates.

JEL-codes: R3 (search for similar items in EconPapers)
Date: 2013-01-01
References: Add references at CitEc
Citations:

Downloads: (external link)
https://eres.architexturez.net/doc/oai-eres-id-eres2013-326 (text/html)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:arz:wpaper:eres2013_326

Access Statistics for this paper

More papers in ERES from European Real Estate Society (ERES) Contact information at EDIRC.
Bibliographic data for series maintained by Architexturez Imprints ().

 
Page updated 2025-04-03
Handle: RePEc:arz:wpaper:eres2013_326