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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

A Fresh Look at REITs

Commercial real estate has been broadly embraced by institutional, sovereign global, and individual investors. At the same time, equity REITs have matured and grown well beyond the “small-cap” generalization contained in many academic studies over the last two decades. With the Global Financial Crisis (“GFC”) a decade past and negative interest rates prevalent in many global markets, a fresh

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

CubeSmart (CUBE)

North America In the U.S.: The first print of Q1 GDP showed a 4.8% q/q SAAR contraction, marking the first contraction since 2014. Personal consumption was the big drag on the reading, down 7.6%. Promising results from two studies of the Gilead drug Remdesivir were released this week. The studies concluded that the drug aided patients already positive with

Equinix, Inc. (EQIX)

North America In the U.S.: Treasury Secretary Mnuchin told Bloomberg he is considering the creation of a government lending program for oil companies. The administration also considering taking financial stakes in exchange for some loans, and some firms may be asked to reduce production. According to Mnuchin, some oil companies may already be able to access a loan program

Hilton Worldwide Holdings (HLT)

North America In the U.S.: The White House released a plan for phased economic reopening. The caveat to the plan, was that the ultimate decision to reopen was up to the state governments, a notion that had been challenged by President Trump earlier in the week.Initial unemployment claims jumped another 5.2M this week versus last week’s 6.6M. The staggering

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