S&P/GRA: CRE Prices Rose 0.7% in May

Commercial real estate prices rose 0.7% in May on a national basis and recorded a 12-month increase of 3.6%, according to the S&P/GRA Commercial Real Estate Indices. The highest 12-month rates of return were recorded by the apartment sector, at 5.8%, and the Pacific West, at 7.2%, S&P reported. The worst 12-month performances were recorded in the retail sector, with a 0.5% return, and the Desert Mountain West, with a negative-1.9% return, according to the company. "This month's numbers offer some encouragement," said David Blitzer, managing director and chairman of S&P's Index Committee. ".... Only one of the regions and two of the property sectors saw price declines during the May/April period." The indices can be found on the Web at http://www.standardandpoors.com/indices.