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 2021

Compensation Survey

Proprietary research providing compensation of real estate investment managers. The report covers more than 300 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.

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Next issue released: Dec 2021

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: Oct 2021

global management 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 GMS Survey is sponsored by NAREIM and INREV to provide a global overview of enterprise metrics. The report covers more than 65 individual data points, including, but not limited to:

  • Capital Raising & AUM Metrics: Capital raising and net and gross AUM growth, new commitment trends, investor concentration ratios, use of daily-valued private RE vehicles, dry powder and subs lines, leverage use, acquisition & disposition volumes, development pipeline activity.

  • Organizational Metrics: Headcount growth, employees per $1bn AUM, employee breakdowns per function, per function and seniority, portfolio manager, equity asset manager and acquisition officer workloads, outsourcing, spn of control, turnover and layoffs, valuation policies, functional group trends - ESG, Sustainability, Data Strategy, Asset Management​

  • 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 prevalance, promote/carried interest trends, promote catch-ups, GP co-investments, fund employees.

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Next issue released: Dec 2021

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.

ESG consultant directories

Compensation & benefits: pulse surveys

Property manager scorecards

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