Delfim, Jean-ChristopheHoesli, Martin2018-01-122018-01-122016Delfim, J-C & Hoesli, M 2016, 'Risk factors of European non-listed real estate fund returns', Journal of Property Research, vol. 33, no. 3, pp. 190-213. https://doi.org/10.1080/09599916.2016.11995900959-9916ORCID: /0000-0003-2173-1200/work/147046612http://hdl.handle.net/2164/9894Acknowledgements: We thank INREV (the European Association for Investors in Non-Listed Real Estate Vehicles) for funding a previous version of this research and providing non-listed fund data as well as very useful comments. This version is published as Delfim, J.-C. and Hoesli, M., 2015, Risk Factor Analysis of European Non-Listed Real Estate Funds, Amsterdam: INREV. The usual disclaimer applies. We also thank three anonymous reviewers and the guest editor, Graeme Newell, for insightful remarks.241356198engnon-listed real estatereal estate fundsrisk factorsmacroeconomyEuropean MarketsH Social SciencesHJournal article10.1080/09599916.2016.1199590333