Transactions - JULY 27, 2015

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Industrial properties lead second quarter 2015 NPI results

by Zoë Wolff

The NCREIF Property Index total return for the second quarter was 3.14 percent, consisting of 1.26 percent income return and 1.89 appreciation return. The total return for the quarter is down slightly from the 3.57 percent in the previous quarter, but stronger than the 2.91 percent returned in second quarter 2014. NPI total returns were 13 percent over the 12-month period ending in second quarter 2015.

Industrial properties led the pack with 3.78 returned in the second quarter, followed closely by hotels with 3.54 percent returned. Office returned 3.11 percent. Apartment and retail properties both bring up the rear, returning 2.98 percent for the quarter. All property types, with the exception of retail and office, experienced growth from first quarter returns. Office fell 0.19 percent, while retail fell nearly 2 percent from the previous quarter.

The regions were all fairly similar with returns in the 3 percent range — all down from the previous quarter

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