INREV - Investors in non-listed real estate vehicles

INREV became officially active in April 2003 in Wiesbaden with approximately 50 members. The organization is run by Jan Willem de Geus (Morgan Stanley) and Pieter Hendrikse (director ING Real Estate Residential Fund). The initiative was supported by the Dutch pension fund organization, ABP, which is worth about € 6 bn. of non-listed property mainly located in Europe. INREV is dominated by institutional investors and supported by other market participants such as fund managers, investment banks, lawyers and other advisors. 60% of the authority lies with institutional parties.