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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 15 funds in this cohort
Sample15 funds4 with composite· 2015–2019Below 25-fund threshold — read with caution

Score · median across 4 scored funds

Composite
51
Absolute LP Take
88
GP Timing Risk
28
Pref Quality
63
Fee Drag
0
Alignment
19

Structural design — median

Pref rate
median
9.5%
n
6
Hurdle rate
median
13.0%
n
2
LP residual split
median
70.0%
n
5
GP residual split
median
30.0%
n
5
Catch-up rate
median
n
0
GP commit
Undisclosed treated as 0% per platform policy.
median
0.0%
n
15

Feature prevalence — % of funds where present

Pref cumulative
33%
Pref compounding
0%
Has catch-up
50%
Has clawback
Analyst tier

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