Industrial leads NPI results for second consecutive quarter
Commercial real estate continued its robust performance in the third quarter, with industrial the leading property type for the second consecutive quarter, according to the NCREIF Property Index, which had a third quarter total return of 3.09 percent, consisting of 1.22 percent income and 1.86 appreciation.
The total return for the quarter is down slightly from the 3.14 percent total return in the previous quarter, but stronger than the 2.63 percent returned in third quarter 2014. The 12-month NPI total return was 13.48 percent over the period ending in third quarter 2015.
Industrial was the leading property type again with a return of 3.67 percent in the third quarter, followed closely by hotels with a total return of 3.52 percent. Retail jumped up from being the worst performer in the second quarter to the middle of the pack in the third quarter, returning 3.11 percent. Apartment and office properties both bring up the rear, returning 2.92 percent and 2.97 p