This article provides a synopsis of the 2000 RERI/PREA Benchmarks & Index Needs Study.  In particular, the authors summarize the RERI/PREA study's Techinical Report regarding "the ideal index."  The authors addreess such questions as the need for a "research index" (in addition to a "benchmark index"), the role of "peer universes," appraised values, and transaction prices, and what to do about investments that are not regularly marked-to-market.

Ideal Research & Benchmark Indices in Private Real Estate: Some Conclusions from the RERI/PREA Techn.