New office subcategories incorporated into the National Council of Real Estate Investment Fiduciaries (NCREIF) property index will give investors better visibility into long-term trends that impact portfolio construction and risk/return tradeoffs, said Aaron Jodka, director of U.S. capital markets research at Colliers, in an analysis.
NCREIF expanded its property index within its Q1 data release to capture different pricing experiences within diverse categories.
"Determining office values can be challenging today," said Jodka. " Some assets are trading at significant discounts to their last sales price, but these properties generally have lower occupancy. A disparity remains between major price indices from CoStar, Green Street, MSCI, NAREIT, and NCREIF."
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