Data Products

NCREIF provides the most reliable, consistent, unbiased, well-specified, and valuable commercial real estate data. For consistent reporting standards, thorough data validation and reliable market analysis, UBS turns to NCREIF first.

-William Hughes, Applied Research at The Bergstrom Real Estate Center - University of Florida

NCREIF collects both property and fund level information from its members on a quarterly basis, and in one case on a monthly basis.  This data is used to produce various indices and performance reports.  The data is also available to members in masked form for research and other purposes.

NCREIF’s historical property and fund database go back to the Fourth Quarter 1977 and consists of over 35,000 properties and over 150 open-end and closed-end funds.

The NCREIF data products are broken out based on investment type, which are - Property, Fund, Timberland, or Farmland. There is also a NCREIF Analytics section which includes tools or reports that offer a variety of ways to access or analyze the NCREIF data.

NCREIF data products and analytical tools are available to NCREIF members only.  If you are a non-member and wish to inquire about subscriptions to access the data, please click here.

Data Workflow

Property

NCREIF Property Index (NPI)
NCREIF’s flagship index, the NPI is a quarterly index tracking the performance of core institutional property markets in the U.S.
Learn More
NCREIF Indicators: Capital Performance and Property Operations
A quarterly series that consists of three statistical measures derived from properties that qualify for inclusion in the NCREIF Property Index (NPI). These indicators are the Market Value Index (MVI), the Free Cash Flow Yield (FCFY), and the Capital Expense Ratio (CXR).
Learn More
NCREIF Operational Benchmark Report
Same-store operations analysis report utilizing CapEx, Income and Expense data.
Learn More
NPI Trends Report
A quarterly report tracking changes in capitalization rates, net operating income and vacancy rates.
Learn More
NCREIF Transaction Based Index (NTBI)
A quarterly equal-weighted transaction and appraisal index.
Learn More

Funds

NCREIF Fund Index – Open End Diversified Core Equity (NFI-ODCE)
A quarterly capitalization-weighted index of open-end funds that qualify based on narrowly defined core strategies.
Learn More
NCREIF Fund Index – Open End Equity (NFI-OE)
A quarterly index of open-end, commingled equity real estate funds with diverse investment strategies.
Learn More
NCREIF Fund Index – Closed End Value Add (NFI-CEVA)
Quarterly equal-weighted vintage year indices based on since inception IRRs and investment multiples.
Learn More
NCREIF Fund Index - Daily Priced (NFI-DP)
A monthly index comprising a small universe of open-end funds that are priced daily.
Learn More
NCREIF INREV ANREV Global Real Estate Fund Index (GREFI)
Quarterly report utilizing funds from the US, Europe and Asia Pacific combined to calculate this overall global fund index.
Learn More

Farmland

NCREIF Farmland Property Index
A quarterly index tracking the performance of farmland properties held by NCREIF members.
Learn More

Timberland

NCREIF Timberland Property Index
A quarterly index tracking the performance of timberland properties held by NCREIF members.
Learn More
NCREIF Timberland Fund and Separate Account Index (NTFSAI)
A quarterly index tracking the fund level performance of timberland funds held by NCREIF members.
Learn More

NCREIF Analytics

Market Performance Report
A detailed interactive comparison of the performance indicators of one market compared to the nation.
Learn More
Market Revenue and Expense Report
A detailed comparison of the revenue and expense indicators of one market compared to the nation.
Learn More
Market Operations Report
A detailed interactive comparison of the operating measures of one market compared to the nation.
Learn More
NCREIF Query Tool
Allows custom queries of the data fields collected in the NCREIF property database.
Learn More

NCREIF License Agreement Data

NAIC Price Change Index
The NCREIF Price Change Index is calculated by Modifying the NCREIF Appreciation sub-index by adding capital expenditures back into the numerator.
Learn More