A rare look inside the valuation guts of a top-ranked core fund:
Retail
• Golden child
• +60 bps cap rate expansion
• High single-digit total returns
Industrial
• Largest allocation
• +70 bps expansion
• Just treading water
Multifamily
• +140 bps cap rate expansion
• -10% to -20% total returns
• Income growth helping… barely
Office
• Nearly -50% total returns
• +180 bps cap rate expansion
• Still a dirty word with institutions
---- Takeaway ----
Headlines don’t define markets. You need to be able to follow the dollars to navigate this market. DM us to join the next FastTrack cohort.
---- Want the details? ----
Click here to see original deck, which includes allocations, benchmarks, discount rates, cap rates, rent growth assumptions, etc.
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