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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

3Q17 Capital Market Outlook

Third Quarter 2017 is the fifth in a row that the Wilshire US REIT Index has underperformed the S&P 500 Index, an unprecedented losing streak based primarily on the assumption that deregulation and tax cuts at home and a broad based economic recovery abroad will jump start an economy (and earnings) in its eighth year of expansion, leading to

3Q17 Capital Market Review

Global synchronous recovery seems to be the financial community’s mantra for 2017, used to ward off evil spirits associated with tightening monetary policy, particularly in the US. Although Balkanization across the globe and climate change pose great long-term threats, their symptoms (Charlottesville, Catalonia and the severity of Hurricanes Hugo and Irma) resulted in only short-term market volatility and, thus

Amazon-Whole Foods Merger Casts Smaller Shadow Over Retail REITs

Amazon’s (AMZN) announcement on the morning of June 16, 2017 that it had entered into an agreement to acquire Whole Foods Market (WFM) for $42 per share in an all-cash transaction valued at $13.7 billion was positively received by shareholders of both companies. WFM shares ended the day up 29.1% (above the acquisition price in anticipation of a competing/higher

2Q17 Capital Market Outlook

If the dual mandate of the FOMC is full employment and stable price (i.e. fighting inflation) and the FOMC’s preferred measure of inflation, the core personal consumption expenditures price index (“PCE”) is tipping downward by their own admission, why is the FOMC continuing on their tightening path? Well, the FOMC’s Philips Curve models say so. Named after a British
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

Industrial Logistics Properties Trust (ILPT)

North America In the U.S.: December headline CPI increased 0.1% m/m versus 0.4% m/m increase in November. The report pushed the y/y rate of growth down to 2.1% from 2.2%. December headline retail sales increased 0.4% m/m versus an upwardly revised 0.9% gain in November. Despite the headline miss, the result was consistent with a fairly upbeat holiday shopping

Welltower, Inc. (HCN)

North America In the U.S.: December nonfarm payrolls rose by 148K, below the expected 190K and much lower than November’s revised 252K gain. Of note, the retail sector lost 20K jobs, while health care, construction, and manufacturing saw gains. REIT Focus: Welltower Inc. (HCN) entered into an agreement to acquire a portfolio of Sunrise Assets for $368M. The portfolio

Welltower Inc. (HCN) Partnered with Simon Property Group (SPG)

In the U.S.: President Trump’s interview with NYT largely reiterated his existing views on a range of However, Trump expressed disappointment with reports China has been shipping oil to North Korea, but was vague on how he was going to deal with the situation. REIT Focus: Welltower Inc. (HCN) has partnered with Simon Property Group (SPG) to bring world

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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