Institutional investors, including pension funds, life insurance companies, foundations, and retirement and pension schemes, have significant investments in real estate assets. The management of these investments and the portfolio is typically conducted at the institutional level as part of asset management or specialized real estate asset management. Despite the high investments, the market for both internal and external asset management is highly fragmented and opaque, making it difficult to compare different asset management standards and approaches, which leads to inefficiencies in the market. Nevertheless, there is a noticeable professionalization of direct and indirect real estate investment in the market. This research project aims to investigate the current state of real estate asset management.