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: 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
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