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Adelante Capital Management

Founded in 1995, Adelante is a global investment management firm focused on real estate securities, predominantly REITs. We employ a disciplined investment process seeking high quality portfolios for our clients at attractive prices relative to direct real estate values or Net Asset Value (“NAV”). Learn more about our firm

Institutional Investors

Adelante’s legacy as a premier real estate securities investment firm is a reflection of our long-term relationships with institutional investors and the financial investment consultants that serve and represent our clients, as well as companies in the commercial real estate investment community.

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Financial Professionals

The inclusion of real estate securities in an investment portfolio and access to quality real estate investment expertise is no longer the sole realm of the institutional investor. Through their financial advisors, individual investors can access Adelante’s deep investment knowledge and experience.

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Insights

Learn from our library of articles showcasing our industry expertise

And The Winner is… Amazon! & REITs!

Image used with permission of Philadelphia Inquirer Copyright© 2018. All rights reserved. Amazon, Inc. sent hundreds of municipalities into frenzy in September 2017 when the e-commerce juggernaut announced plans to establish a second corporate headquarters in North America, uninspiringly dubbed HQ2. Nearly 250 cities responded to Amazon’s Request for Proposal (RFP), with hopes of adding 50,000 full-time, highly-paid Amazons

3Q18 Capital Market Review

Make no mistake; the US economy is doing well. The third estimate of Second Quarter GDP growth came in at 4.2% compared to 3.0% for Second Quarter 2017 and the latest estimate for Third Quarter GDP growth from the Federal Reserve Bank of Atlanta is 4.2%. According to the Bureau of Labor Statistics, changes in total nonfarm payroll in

3Q18 Capital Market Outlook

In an era of rising rates, proponents of sectors like Utilities and REITs which are perceived to be interest rate sensitive can only offer two arguments in their defense: (i) interest rates (on the long end) aren’t going to go up much further or (ii) the afore-mentioned sectors aren’t really negatively impacted by rising rates. On September 25 last

2Q18 Capital Market Outlook

To a certain extent, all of the headwinds confronting the asset class are still gusting against the bow of USS REITs but perhaps the 13% decline to start the new year was overdone. Retail REITs still comprise 18% of the Index but sentiment has certainly shifted in favor of the tenants and, by extension, the landlords. The message coming
Michael Torres Testimonial
Michael TorresWe honor the privilege entrusted in us by each and every client.
Jeung Hyun Testimonial
Jeung HyunOur size allows us to apply our NAV metric in the most disciplined manner possible.

Friday Market Recap

Weekly Assessment of Global Real Estate Trends

Digital Realty Trust (DLR)

North America In the U.S.: As expected, the Fed raised rates by 25 bps. The markets reacted negatively as the statement from Fed Chair Powell was not as dovish as expected given that the language “further gradual” increases was not removed. The government looks likely to shutdown as House Republicans passed a funding bill that included the $5.7B in

Simon Property Group (SPG)

North America In the U.S.: December IHS Markit flash manufacturing PMI was down 1.4 points m/m to 53.9 versus November’s 55.3 reading. New order growth was the weakest in over a year and manufacturing employment growth was the softest since Aug-17. REIT Focus: A report on Dealreporter stating that Simon Property Group (SPG) could have been weighing a bid

SL Green Realty Corp. (SLG)

North America In the U.S.: November nonfarm payrolls fell to 155K versus October’s revised 237K reading. The unemployment rate was unchanged at 3.7% and labor force participation rate was unchanged at 62.9%. The slower than expected job growth increased the expectations of only one rate hike next year from the current expectation of two rate hikes. The trade discussions

Domestic Real Estate Securities Strategy

Adelante Capital Management’s domestic real estate securities strategy is designed for those investors who recognize the diversification benefits of real
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Global Real Estate Securities Strategy

Adelante’s Global Real Estate Investment Strategy is designed for those private and institutional and individual investors who both recognize the diversification benefits of real estate in their overall investment portfolios and also desire exposure outside the U.S. commercial real estate market.

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