Property Valuation & Mark-to-Market Dashboard
Meridian Real Estate Fund III · Q4 2024 Quarterly Mark · 52 Properties
Portfolio NAV
$1.94B
+2.2% QoQ
Variance (Int. vs Appr.)
4.2%
Target: <5%
Implied Cap Rate
5.8%
+40 bps YoY
MTM Unrealized Gain
+$42M
Industrial +$62M
LTV Headroom
18.4%
Wtd. Avg Portfolio
NAV Bridge Decomposition (Q3 → Q4 2024)
Implied Cap Rate Trend
Valuation Variance by Property
Property Valuation Detail
Property
Asset Class
Internal DCF
Appraisal
Variance
Variance Bar
Comp Score
Implied Cap
MTM Gain/Loss by Asset Class
Discount to Replacement Cost Index
Rent Assumption Variance
+1.8%
Internal vs Submarket Actual
Disposition Premium
+3.4%
vs Most Recent Appraisal
Avg LTV Headroom
18.4%
After Mark-to-Market
Equity Multiple Sensitivity to Cap Rate ±50 bps
Last Appraisal Cycle:
Nov 2024 (48 of 52 properties)
Next Quarterly Mark:
March 31, 2025
Data Sources:
Argus DCF, RCA Transactions, CoStar Cap Rates