Moody's/REAL Commercial Property Price Index rose 0.9% in June, after jumping 6.6% in May. Three of the four Moody's property type indices showed prices gains in the second quarter: office space with a 8.9% gain; industrial 2.5%; and apartments 0.6%. The retail index faltered a bit, dropping 0.3% over the last ... More
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Moody’s: CPPI rose 0.9 percent in June
Tuesday, August 23rd, 2011Andrew Farkas, Vertical Integration and Fees
Saturday, August 20th, 2011In the late 90s and early 2000s, Andrew Farkas slowly liquidated much of his real estate empire he had built over the previous decade. According to his personal website: Mr. Farkas founded Insignia in 1990 with $5 million in equity. By 1998, Insignia had become the largest owner and operator of ... More
Commercial Real Estate Liquidity Improves
Monday, August 8th, 2011One of the most interesting indices we follow is the Transactions-Based Index (TBI). In order to calculate this index, MIT's Center for Real Estate uses data collected from the NCREIF Index database. While it does have its own price index, one of the more unique measurements this analysis includes is ... More
Moody’s/REAL CPPI vs. MSCI REIT Index
Tuesday, August 2nd, 2011As Moody's continues to compare their overall CPPI to a non-distressed, 6-city trophy index, it made me wonder how the overall performance of the MSCI REIT Index compared to Moody's/REAL CPPI. Then, it occurred to me to consider Green Street's Commercial Property Price Index, too. Note: All indices are indexed to ... More
A word of caution to apartment investors…
Wednesday, June 29th, 2011Earlier this week, we summarized the results of PWC's quarterly Real Estate Investor Survey, during which, noting that apartment pricing has effectively risen by 25% over the last 4 quarters. Globe Street just published an article which followed the same sentiment for the state of California: Multifamily fundamentals are expected to ... More
Moody’s/REAL CPPI vs. S&P Case Shiller
Monday, June 20th, 2011Calculated Risk is known for its informative graphics. One of our favorites is the comparison between S&P's Case-Shiller Housing Price Index and Moody's/REAL Commercial Property Price Index. But, the last one we were able to find was about 12 months old. An updated one in Google Charts is below. What is ... More
S&P Case Shiller hits lowest level since 2002
Wednesday, June 1st, 2011Yesterday, we posted on Moody's/REAL CPPI reaching lows not seen since the early 2000s. The same can be said about The S&P/Case-Shiller Home Price Index. From the S&P Press Release: Data through March 2011, released today by Standard & Poor’s for its S&P/Case-Shiller Home Price Indices, the leading measure of U.S. ... More
Moody’s CPPI drops 4.2 percent in March
Tuesday, May 31st, 2011Moody's Commercial Property Price Index (CPPI) fell 4.2 percent in March. This drop makes for 4 months of consecutive declines for the index and marks a new post bubble low, resting at 101.17. Find the full report on RealIndices.com or RCAnalytics.com. The reason for this decline? Moody's: Nearly one third of ... More
Moody’s CPPI drops 3.3 percent in February
Thursday, April 21st, 2011The Moody's/REAL Commercial Property Price Index (CPPI) saw its largest one-month drop since August 2010, declining 3.3 percent. The index is down 44.6 percent from its October 2007 peak. This drop is the index's largest in 5 months and is mostly a product of distressed trades making up 29 percent of ... More
Green Street vs. Moody’s CPPI: What’s reality?
Thursday, August 25th, 2011Green Street Advisors recently published the July results of their Commercial Property Price Index (CPPI). The Green Street Advisors Commercial Property Price Index (GSA CPPI) remained unchanged in July. Properties have increased in value by more than 45% from the '09 trough, which means that three-quarters of the decline that ... More
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