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Benchmarks · Real Estate Equity

Multifamily / Apartments

Institutional and middle-market apartment funds. The most common LP-targeted real-estate strategy in the US — large sample sizes mean these benchmarks are tight.

Sample14 funds14 with composite

Score · median across 14 scored funds

Composite
46
Absolute LP Take
81
GP Timing Risk
24
Pref Quality
30
Fee Drag
9
Alignment
15

Structural design — median

Pref rate
median
8.0%
n
7
Hurdle rate
median
13.0%
n
3
LP residual split
median
75.0%
n
10
GP residual split
median
25.0%
n
10
Catch-up rate
median
50.0%
n
2
GP commit
Undisclosed treated as 0% per platform policy.
median
0.0%
n
14

Feature prevalence — % of funds where present

Pref cumulative
86%
Pref compounding
0%
Has catch-up
38%
Has clawback
Analyst tier

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