IPD has released the preliminary fourth quarter 2013 results of the Giliberto-Levy Commercial Performance Index. The index, which tracks institutional-grade fixed-rate loans typically held by insurance companies and pension funds, saw total fourth quarter returns of 0.69 percent, which brings the total returns for 2013 to 2.9 percent. The fourth quarter returns broke down by property sector as follows:
- Apartment: 0.09 percent
- Office: 0.49 percent
- Industrial: 1.05 percent
- Retail: 1.06 percent
- Other sectors: 1.01 percent
The index’s fourth quarter numbers outpaced intermediate term Treasuries (–0.5 percent) and investment-grade CMBS (0.6 percent). The three- and five-year total
