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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.

Sample40 funds10 with composite

Score · median across 10 scored funds

Composite
57
Absolute LP Take
100
GP Timing Risk
38
Pref Quality
55
Fee Drag
34
Alignment
24

Structural design — median

Pref rate
median
9.0%
n
11
Hurdle rate
median
13.0%
n
3
LP residual split
median
70.0%
n
9
GP residual split
median
30.0%
n
9
Catch-up rate
median
n
0
GP commit
Undisclosed treated as 0% per platform policy.
median
0.0%
n
40

Feature prevalence — % of funds where present

Pref cumulative
36%
Pref compounding
0%
Has catch-up
31%
Has clawback
Analyst tier

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