PIMCO: Property values to stay 40% below 2007 peak

06/16/2010 | Bloomberg

U.S. commercial property values are not likely to regain their 2007 valuations in the near future, according to Pacific Investment Management Co., which estimates they will stay 40% below those peak-year prices. "Capital is clearly returning to commercial real estate, helping to stem the value decline in the sector," it said in a newly released report. "Optimism should be tempered, because national price indices are misleading when transactions are limited and fail to reflect the significant uncertainty around property valuations."

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