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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 11 funds in this cohort
Sample11 funds4 with composite· 2020+Below 25-fund threshold — read with caution

Score · median across 4 scored funds

Composite
62
Absolute LP Take
100
GP Timing Risk
39
Pref Quality
62
Fee Drag
48
Alignment
32

Structural design — median

Pref rate
median
8.0%
n
3
Hurdle rate
median
14.0%
n
1
LP residual split
median
80.0%
n
3
GP residual split
median
20.0%
n
3
Catch-up rate
median
n
0
GP commit
Undisclosed treated as 0% per platform policy.
median
0.0%
n
11

Feature prevalence — % of funds where present

Pref cumulative
67%
Pref compounding
0%
Has catch-up
0%
Has clawback
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