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PREA: 2014 private real estate return expectations rise during the quarter

The Pension Real Estate Association on Monday released the latest results of its Consensus Forecast survey. The average expected total return for the NCREIF Property index in 2014 is 9.5%, up 80 basis points from the first-quarter survey when the average expected return was 8.7%.

Long-term return expectations also increased, with the average expected annual return between 2014 and 2018 to be 8%, up from 7.5% a quarter ago.

By property type, retail's return expectations grew the most for the current year -- up 2 percentage points to 10.5% in 2014.

Twenty-four investment managers, advisers and researchers of U.S. property markets participated in the survey.