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GRA, S&P Developing New CRE Indices

SAN FRANCISCO-Initially there will be an index for each of five US regions and four property sectors plus one national composite index, all focused on real estate prices.

By Brian K. Miller | Updated on November 06, 2006

SAN FRANCISCO-Ten new real estate indices are in the works thanks to a new partnership of locally headquartered Global Real Analytics and Standard & Poor’s. Developed by GRA for S&P, the indices are expected to launch during first quarter of 2007. The Chicago Mercantile Exchange has said it will trade futures and options on futures on the indices.

The S&P/GRA Commercial Real Estate Indices will be calculated to reflect underlying real estate and capital market fundamentals by measuring the change in commercial real estate prices by property sector and geographic region, according to GRA. Reported index values will be based on a three-month rolling average transaction price per sf, calculated using the broad-based target market geographic definitions, refined property type definitions, and commercial stock weights.

There will be an index for each of five geographic regions and each of four property types, plus a national composite index. The five US regions will be the West, Desert Mountain, Midwest, Northeast, and Mid-Atlantic South. The four national property sectors will be office, retail, warehouse, and apartments.

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