Why it matters
When practitioners reference a "market cap rate," they usually mean a CBRE Cap Rate Survey range. It is the single most-cited cap-rate publication and the closest thing to a consensus pricing read across asset classes, classes (A/B/C), and metros.
How CRE teams consume it
Twice yearly — manual download per release. Reference the H1 + H2 issue pair to build a trailing-12 view. Pair with PwC Investor Survey for IRR/discount-rate triangulation.
Caveats & limitations
Estimates, not transaction-derived. Reflects broker survey consensus rather than actual completed deals; lags the market in turning points.
Use cases
- Underwriting yield assumptions
- Cap-rate benchmarking
- IC memo backup
- Valuation discussions with appraisers