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首页> 外文期刊>Journal of Real Estate Portfolio Management >What Have 25 Years of Performance Data Taught Us About Private Equity Real Estate?
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What Have 25 Years of Performance Data Taught Us About Private Equity Real Estate?

机译:25年的业绩数据向我们传授了有关私募股权房地产的信息?

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NCREIF has published performance data covering a 25-year historical period for institutional investments following core, valueadd, and opportunistic strategies in private equity real estate assets. In this paper, I summarize salient observations regarding capital appreciation, income, fees and expenses, the income share of total return, the effects of cash reserves and leverage, net total returns, systematic risk, and risk-adjusted performance during five informative market periods: two severe real estate market downturns, one complete real estate bull market, and two incomplete bull market periods. The available data challenge several points of conventional wisdom regarding private equity real estate returns.
机译:NCREIF已发布了针对私募房地产资产的核心,增值和机会主义策略的机构投资的业绩数据,涵盖了25年的历史期。在本文中,我总结了五个信息市场期间有关资本增值,收入,费用和支出,总收益的收入份额,现金储备和杠杆的影响,净总收益,系统风险以及风险调整后的业绩的重要观察结果。 :两次严重的房地产市场低迷,一次完整的房地产牛市和两次不完整的牛市时期。现有数据挑战了有关私募股权房地产收益的传统观点。

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