Welcome to

Adelante Capital Management

Founded in 1995, Adelante is a global investment management firm focused on real estate securities, predominantly REITs. Adelante employs a disciplined investment approach seeking high quality assets at attractive prices relative to direct real estate values. 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.


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.


News & Insights

Learn from our library of articles showcasing our industry expertise

SPG & GGP Call an Audible on Aéropostale

Mall REIT juggernaut Simon Property Group (“SPG”) and General Growth Properties (“GGP”) called an audible last week in a last ditch effort to save bankrupt retailer Aéropostale from liquidation. A group ostensibly led by SPG and GGP successfully bid $243.3 million at auction, beating a credit-bid of $150 million where the most likely outcome was the shuttering of the
Glasses, pencil and keyboard on stock market graph, business concept

2Q16 Capital Market Outlook

The stunning Brexit vote was the final nail in the coffin for any further intervention by the FOMC for the rest of 2016. In fact, many in the investment community believe that the FOMC tightening cycle is over, having effectively started with the exit from Quantitative Easing (remember the “Taper Tantrum?”); the current implied probabilities for a future rate
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2Q16 Capital Market Review

REITs outperform in a volatile quarter. Leading into the final round of the 2016 US Open, Dustin Johnson, the eventual champion, was asked about the disastrous three-putt on the final hole of last year’s US Open which cost him that tournament, to which he replied with aplomb, “What happened last year?” If Dustin Johnson was asked about the global
capital market outlook

1Q16 Capital Market Outlook

It’s entirely plausible for volatility to remain amplified throughout the year and it wouldn’t be surprising to see the equity markets re-test the lows of 1Q16 again later this year. China’s slowing economic growth and currency devaluation will likely continue to weigh on the global economy (here, it is worth reminding readers that outside of a few select companies
Michael TorresWe honor the privilege entrusted in us by each and every client.
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

Century City Shopping

In the U.S.: Fed Vice Chairman Stanley Fischer stated that the Fed is close to its official policy goals. Mr. Fisher’s comments increased the likelihood of a November hike to over 17% while most economists expect the next hike to be in December at 66%. REIT Focus: SL Green Realty (SLG) sold a 49% ownership interest in Manhattan’s 400 E. 57th

Diplomatic Relations with Cuba

North America In the U.S.: The September FOMC minutes did little to impact expectations surrounding a December rate hike. Of note, some participants expressed concern about the potential loss of Fed credibility as they delay rate hikes after meeting previously laid out economic targets. The White House announced the lifting of many trade restrictions with Cuba. The amendments will allow

Hurricane Matthew

In the U.S.: September ISM manufacturing index expanded to 51.5 and non-manufacturing ISM was 57.1 versus August readings of 49.4 and 51.4 respectively. The better than expected readings were aided by strong new orders and business activity. September Nonfarm payrolls missed estimates at 156K from August’s revised 167K reading. The unemployment rate increased to 5.0% and labor force participation ticked up

Domestic Real Estate Strategy

Adelante Capital Management’s domestic real estate investment strategy is designed for those investors who recognize the diversification benefits of real

Global Real Estate 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.