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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.

VintageAll years2020+2015–20192010–2014Pre-2010Showing 9 funds in this cohort
Sample9 funds9 with composite· 2015–2019

Score · median across 9 scored funds

Composite
45
Absolute LP Take
80
GP Timing Risk
22
Pref Quality
45
Fee Drag
0
Alignment
15

Structural design — median

Pref rate
median
9.0%
n
5
Hurdle rate
median
13.0%
n
2
LP residual split
median
70.0%
n
7
GP residual split
median
30.0%
n
7
Catch-up rate
median
50.0%
n
2
GP commit
Undisclosed treated as 0% per platform policy.
median
0.0%
n
9

Feature prevalence — % of funds where present

Pref cumulative
80%
Pref compounding
0%
Has catch-up
56%
Has clawback
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