It's Time to Start Reporting TGER— Are You Ready?

Real estate investors are calling for greater transparency and visibility around the fees and costs associated with running investment vehicles. To address these growing expectations, key industry associations around the globe—NCREIF, INREV, ANREV, and PREA—have incentivized a standardization project to more clearly define the calculation and related disclosure of a harmonized Total Global Expense Ratio (“TGER”).

At year-end 2020, TGER became an integrated requirement as part NCREIF PREA Reporting Standards and INREV’s Guidelines. It is a principles-based metric intended to provide investors with an understanding of fee and expense loads, regardless of regional and operational differences. Both NCREIF and INREV have developed an array of tools, presentations, and disclosure guidance on their respective websites.

Benay Kirk, Managing Director at Alter Domus and member of the NCREIF PREA Reporting Standards Council, says: “TGER helps align investor needs across geographies, and represents the next generation in reporting standards for the real estate industry.”

Stephane Campori, Director Real Estate at Alter Domus, says: “We pride ourselves on having an international team of experts able to assist our clients in complying with industry standards for their financial reporting to investors.”

Get in touch with a member of our team to discuss your unique needs and how we can assist you in complying with industry standards for your financial reporting to investors.