NCREIF PREA Reporting Standards

Consistent, Transparent, Comparable

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Our Mission

Establish, manage, and enhance transparent and consistent reporting standards for the real estate industry fostering comparability and informed investment decision-making.

We accomplish our mission through three key pillars: Lead, Collaborate, Promote.

For the industry, by the industry

While established standard-setting bodies like the Financial Accounting Standards Board (FASB) and the CFA Institute (creators of the Global Investment Performance Standards – GIPS®) provide broad financial reporting frameworks, they do not fully address the unique needs of institutional real estate investment reporting. The Reporting Standards were developed to fill this critical gap.

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Just Released

New White Paper: Advancing Transparency in Private Closed-End Fund Performance

This paper brings much‑needed clarity to several areas where industry practice has varied widely, including:

🔹 How to calculate net IRRs with and without subscription facilities
🔹 Best practices for reporting gross realized and unrealized IRRs separately
🔹 Clarification on the calculation and use of multiples reported alongside IRRs

Download Here

Upcoming Council Meeting

February 17, 2026 – 2:00 PM Central

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Key Benefits

  • Supports better decision-making with standardized data
  • Promotes industry-wide consistency in reporting
  • Enhances investor confidence through transparency
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Get Involved

Please consider volunteering for this important initiative. There is a place for anyone who wants to be involved. Contact us for more information

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Join Us In Person

The Reporting Standards will be meeting at the NCREIF Spring Conference 2026 in Scottsdale, AZ. NCREIF members are welcome to register and attend.

March 17-18, 2026

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