In the third quarter of 2024, two of the quarterly indices from NCREIF showed positive returns for the first time since 2022. The NFI-ODCE had a total return of 0.25%, an improvement from -0.45% in the previous quarter and -1.90% a year ago, while the NPI saw returns of 0.83%, breaking seven consecutive quarters of negative returns.
The income return for NFI-ODCE was slightly higher at 1.04% compared to last quarter’s rate of 1.02%, and up from Q3 in 2023 when it was at .91%. The appreciation return also improved to -0
