realestate

Q3 2025 Commentary on First Eagle Real Estate Debt Fund

Q3 highlights latent housing demand amid US shortage and affordability crisis. Read more here.

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atent housing demand, driven by the persistent U.S. shortage and affordability crisis, became evident in Q3. Institutional shares yielded 2.16% net of sales charges, with an annualized distribution of 8.27% at quarter's close. A modest AUM increase would allow us to add land‑banking deals. Mortgage rates fell to the low‑6% range in September.

First Eagle Real Estate Debt Fund Q3 2025 performance chart.