Commercial Real Estate (CRE) Investor Question #82: Can you compare Holding Period Returns by Property Type?
National Multifamily Housing Council (NMHC) has done a comprehensive study on the holding period returns of key property types. The primary data source for this research is the MSA-level NPI data which includes quarterly property income and appreciation returns for the period 1978-2Q 2017. The NPI is a total return index of privately held commercial real estate properties owned by tax-exempt institutional investors. NPI returns are reported on an unlevered basis.
Summary is as follows, again the returns are based on an unlevered basis: