Research & Best practices

NAREIM is proud to partner with Ferguson Partners to produce benchmarking research into compensation and organizational and management metrics and best practices for real estate investment managers.

Each year, NAREIM produces four benchmarking surveys, including:

  • Real estate investment management’s only industry-specific Compensation Survey

  • A global management and organizational benchmark, the Global Management Survey

  • The first corporate DEI Survey for the industry

  • A Defined Contribution capital raising, structuring and best practice benchmarking survey.

 

NAREIM benchmarking research is not for sale. Research is available to participating NAREIM members only.

 

To learn more about the research reports and how to become a NAREIM member, contact Zoe Hughes or click here for more information on member benefits.

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Next issue released: Oct 2022

Compensation Survey

Proprietary research providing compensation of real estate investment managers. The report covers more than 400 pages of individual position compensation reports, including, but not limited to, functions within:

  • Positions reported on include: Executive management, accounting (corporate, portfolio/fund, property), asset management, capital markets, corporate marketing and communications, due diligence, engineering, environmental, finance, human resources, investor relations, capital raising, leasing, legal and compliance, portfolio management, property management, risk management, technology, transactions, valuations, debt and REIT securities.

NAREIM members can access the executive summary here.

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Next issue released: Sept 2022

DEFINED CONTRIBUTION

In collaboration with the Defined Contribution Real Estate Council (DCREC), the Defined Contribution Survey focuses on defined contribution capital raising, organizational and best practice benchmarking. The report includes but is not limited to:

  • Defined contribution capital raising volume and distribution strategies, enterprise metrics including staffing and organizational best practices, vehicle structuring and deep dives into product-specific metrics, such as investment strategy profiles and liquidity.

All NAREIM and DCREC members participating in the Survey can access results.

To access the executive summary, click here.

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Next issue released: Sept 2023

global management benchmarking
survey

Proprietary research benchmarking the organizational, financial and capital raising metrics of real estate investment managers, providing a global perspective as well as North American and European regional analysis. Since 2021, the GMBS Survey is sponsored by NAREIM, ANREV and INREV to provide a global overview of enterprise metrics. The report covers more than 65 individual data points, including, but not limited to:

  • Revenue: Capital raising and net and gross AUM growth year-over-year, new commitment trends, investor concentration ratios, use of daily-valued private RE vehicles, dry powder and subs lines, leverage use, acquisition & disposition volumes and revenues.

  • Organizational Metrics: Headcount growth, employees per $1bn AUM, employee breakdowns per function, per function and seniority, including portfolio management, asset management and acquisitions. Span of controls, turnover and layoffs, valuation policies, functional group trends - ESG, Data Strategy, Asset Management​ and more.

  • Financial Metrics: YOY financial performance, EBITDA (pre- and post-bonus) margins, bonus pools, revenue and expense breakdowns, treatment of fund-level expenses.

  • Fund/Account T&Cs: Target returns, asset management fees, acquisition & disposition fees, fee prevalence, promote/carried interest trends, promote catch-ups, GP co-investments, fund employees.

  • Governance: Composition of executive committees, board of directors, management committees and investment committees; IC deal flow, voting and decision trends; SEC registration and audit frequency.

NAREIM members can access the executive summary here.

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Next issue released: Dec 2022

diversity, Equity & inclusion

The Global Real Estate DEI Survey is the first corporate benchmark for diversity, equity and inclusion metrics and management best practices for the whole of the CRE. Sponsored by NAREIM and 6 leading associations - including ANREV, INREV, NCREIF, PREA, REALPAC and ULI - the Survey provides corporate benchmarking of gender, ethnicity and nationality globally for CRE - with deeper industry comparisons for real estate investment management. The report covers more than 140 pages of individual data points, including, but not limited to:

  • Employee Demographics: Gender, ethnicity and nationality breakdowns by seniority and job functions, for real estate investment management and the wider CRE supply chain, across North America, Europe and Asia.

  • Best Practice Metrics: Practices relating to the implementation of DEI strategies and initiatives across investment management organizations, including issues relating to ownership and staffing, accountability, tracking and measurement, retention and recruitment, external partnerships and activities, pay equity and transparency.

To access the executive summary, click here.

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