NCREIF Property Index (NPI)
The NCREIF Property Index (NPI) provides quarterly and annual total returns for thousands
institutional-grade office, retail, apartment, industrial, and hotel properties. All properties
in the NPI have been acquired and managed on behalf of tax-exempt institutional investors,
principally pubic and private pension funds. Performance histories began in 1978.
The NPI is market-weighted and reported gross of fees. The computations are time-weighted as
described more fully on the NCREIF web site. Data will be
updated with each quarterly NCREIF release.
The National Council of Real Estate Investment Fiduciaries (NCREIF) is an association of institutional
real estate professionals in the United States.
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