Accordant Launches Registered Interval Fund for Private Real Estate
Accordant Investments LLC, a registered investment advisor based in Scottsdale, AZ, and sub-advisor IDR Investment Management announced the launch of its first registered interval fund, Accordant ODCE Index, that tracks the performance of private real estate funds.
The fund seeks to track the NCREIF Fund Index – Open End Diversified Core Equity (NFI-ODCE Index), on a net-of-fee basis.
“Investors can now participate in an indexing strategy previously limited only to institutional investors. Through our affiliation with IDR, the innovators and patent holders behind the first index fund for private real estate, the fund is designed to provide exposure and streamline investor access to real estate investment vehicles and may provide you with a steady source of income, broader portfolio diversification and attractive risk-adjusted returns,” said Greg Stark, CEO of Accordant.
The NFI-ODCE Index is the dominant benchmark index for US institutional investors, comprised of more than $300 billion in market value supported by roughly 3,000 properties across the 35 largest US markets. Property types include industrial, apartment, office, retail and specialty, which average over $100 million in value per asset.
“IDR has been successfully executing an ODCE index strategy for nearly five years with an institutional fund, making us enthusiastic that our Fund will have an equal appeal to a broader group of investors,” added Garrett Zdolshek, portfolio manager for Accordant.