11Research pieces indexed
Latest Jul 8, 2026
Global Real Estate Intelligence is a neutral index of publicly available research. All rights in CRE Finance Council’s work remain with CRE Finance Council; we link to the original.
Index snapshot tracking performance and composition metrics of open-end moderate-yield debt funds in commercial real estate.
Aggregate performance and activity data for open-end commercial real estate debt funds compiled by NCREIF and CREFC for Q1 2026.
Performance and composition data for open-end real estate debt funds tracked by NCREIF and CREFC for the first quarter of 2026.
Quarterly aggregate performance data and analysis of open-end debt funds tracked by NCREIF and CREFC membership.
Snapshot report tracking performance metrics and aggregate data for open-end real estate debt funds benchmarked against the NCREIF/CREFC moderate-yield index.
A fourth-quarter membership report tracking performance and composition data for open-end moderate-yield debt funds indexed by NCREIF and CREFC.
The 4Q 2025 index rose 2.1 percent to 125.4 from 122.8 in 3Q 2025, approaching the all-time survey high of 126.6 set in 4Q 2024 as financing demand expectations reached a survey record.
The 3Q 2025 Board of Governors Sentiment Index rose 9.3 percent to 122.8 from 112.3 in 2Q 2025, reaching its highest level since 4Q 2024 and solidifying the market's recovery momentum.
The index surged 27.8 percent to 112.3 from 87.9 in 1Q 2025, returning above the neutral 100 baseline, with 86 percent of respondents expecting more borrower demand, up from 48 percent in the prior quarter.
The 1Q 2025 Sentiment Index fell 30.5 percent to 87.9 from 126.6 in 4Q 2024, the second largest drop on record, coinciding with the Liberation Day tariff announcements on April 2.
CREFC's quarterly Compendium compiles data on the state of the CRE debt capital markets, including outstanding debt, issuance volumes and lending activity across the 6.2 trillion dollar sector.
Property types that turn up most often in CRE Finance Council’s published research.
Geographies that turn up most often in CRE Finance Council’s published research.