The IRR of Real Estate Funds: A Cash Management Approach (in Italian)

21 Pages Posted: 16 Sep 2009

Date Written: February 7, 2009

Abstract

Although the internal rate of return (IRR) represents the most widely used measure of performance, some controversy issues about its interpretation as real estate funds performance ratio, are here debated. The aim of the paper is to review these issues and, at the same time, to suggest some IRR adjustments related to the cash management of real estate investment vehicles able to improve its consistency.

Keywords: IRR, real estate, reinvestment assumption, cash management

JEL Classification: G20, G23, G31, L85

Suggested Citation

Sampagnaro, Gabriele, The IRR of Real Estate Funds: A Cash Management Approach (in Italian) (February 7, 2009). Available at SSRN: https://ssrn.com/abstract=1400885 or http://dx.doi.org/10.2139/ssrn.1400885

Gabriele Sampagnaro (Contact Author)

University of Naples Parthenope ( email )

Via Ammiraglio Ferdinando Acton, 38
Via Generale Parisi, 13
Naples, 80133
Italy

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