When the Real Estate Data Initiative (REDI) launched earlier this year, much of the conversation centered on the real estate industry’s long-standing struggle with fragmented investment data.
But in a recent interview with Institutional Real Estate, Inc. (IREI), members of REDI’s steering committee described a broader goal: moving beyond standardized reporting templates toward an implementation framework that can be used consistently across investors, managers, service providers and technology platforms.
The challenge, committee members said, is not a lack of standards. Organizations such as PREA, NCREIF, and INREV have spent years developing reporting frameworks and data definitions. The difficulty has been putting those standards into practice across organizations and systems.
“About 80 percent of our data model aligns to existing industry standar
