Our Investment Philosophy at Adelante Capital Management

Adelante’s investment philosophy guiding our real estate investing strategies has remained consistently focused on Net Asset Value (“NAV”) as the public market for real estate securities has matured since the mid-1990s.

We believe:

  • Real estate assets are the key drivers of company performance – Focusing on underlying real estate value differentiates us from many of our earnings growth-based competitors.
  • Objective, on-site property research discerns the value of real estate assets – Visiting properties owned by our portfolio companies is essential to ascertain NAV.
  • Comparison of stock price to real estate value is the best way to determine return opportunities for individual companies – Investing based on the premise that stock price trends toward private market value over time.

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