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Adelante Capital Management

Founded in 1995, Adelante is a minority-owned global investment management firm focused on publicly traded 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

The Road Ahead for REITs

As we await recounts in some of the close battle ground states and the inevitable lawsuits to follow (did anyone expect this annus horribilis to end differently?), we wanted to take a break from constantly refreshing websites for updated vote counts to offer quick thoughts on the election and its impact on REITs for the months ahead. While the

I see REIT Passive Ownership Rising… Is Trouble on the Way?

The efficient-market hypothesis (EMH) is a long-debated economic theory first introduced in nascent terms in the early 1900s, and advanced starting in the 1950s, which essentially suggests “security prices fully reflect all available information.” Although variations exist, the natural conclusion is that stock price movements are unpredictable; therefore “you cannot beat the market” and active portfolio management is a

4Q18 Capital Market Outlook

Since August 27, when Michael Bauer and Thomas Mertens published their FRBSF Economic Letter titled Information in the Yield Curve about Future Recessions, the ten-year-three-month spread has gone from “nearly 1 percentage point away from an inversion” to low of 15 bps on January 3, 2019. Put another way, investors were willing to lend money for ten years for

4Q18 Capital Market Review

The US economy is still expanding albeit at a slower rate. The third estimate of Third Quarter GDP growth came in at 3.4%, compared to 2.8% for Third Quarter 2017, and the latest estimate for Fourth Quarter GDP growth from the Federal Reserve Bank of Atlanta is 2.8%. According to the Bureau of Labor Statistics, changes in total nonfarm
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

Mack-Cali Realty (CLI)

North America In the U.S.: The drop was worrisome given that it highlighted a continued slowdown in the economic recovery given the disappointing industrial production released earlier in the week. The drop continued the push the theme that the recovery may be decelerating. REIT Focus: Mack-Cali Realty (CLI) announced the strategic sale of a 10-building, 1.5M-square-foot commercial portfolio in

Equinix, Inc.

North America In the U.S.: US President Trump told reporters that he intends to curb the US economic relationship with China, contrasting himself with Joe Biden by threatening to punish any American companies that create jobs overseas and to forbid those that do business in China from winning federal contracts. The drop continued the push the theme that the

Service Properties Trust (SVC)

North America In the U.S.: Although China has increased its US good purchases, it is still not expected to meet its purchase commitments for 2020. This was not surprising given the big gap between Democrats and the White House over the size and scope of the package. The drop continued the push the theme that the recovery may be

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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COVID-19 UPDATE: Keeping you informed