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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

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

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
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

American Tower (AMT)

North America In the U.S.: President Trump announced, via twitter, that the US would impose a 5% tariff on all imports from Mexico and would increase the tariffs every month thereafter until they reached 25%. The escalation in tariffs is said to be due to the White House’s view that Mexico is not doing enough to stop the influx

Alexander & Baldwin, Inc. (ALEX)

North America In the U.S.: Headline April durable goods orders were down 2.1% m/m versus March’s revised 1.7% m/m increase. Analysts noted that the metric was particularly disappointing given that the reading was before the most recent US-China trade war tensions. REIT Focus: Alexander & Baldwin, Inc. (ALEX) completed a $90M off-market acquisition of the Queens’ MarketPlace, a grocery-anchored

Senior Housing Properties Trust (SNH)

North America In the U.S.: Strong rhetoric and demonstrations of military capabilities are increasing the hostilities between the US and Iran. President Trump told the defense secretary that he did not want to go to war, which will hopefully lead his staff to try and diffuse the situation. Earlier this week, Iran was accused of sabotaging four oil tankers

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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