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U.S. Commercial-Property Prices Rise Above Their ’07 Peak
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Prices for U.S. commercial property last month rose above a peak reached in 2007 as low interest rates and financing availability helped increase values, according to research firm Green Street Advisors Inc.
The Green Street all-property index climbed 1 percent from the previous month and is 1 percent higher than the previous record, from August 2007, the Newport Beach, California-based company said today in a statement. Green Street’s index is based on its estimate of the value of portfolios of real estate investment trusts, which tend to own high-quality properties.