nd Index since inception in 1991 has been approximately 11.8% per year versus an average of 8.0% for NCREIF's property index. aura l. hi .NCREIF (rand ince. . NCAE.F P5./potty mat Attaualkred (Wan) bmr(ag Rtxt)imme, Fsnntir.i tutu tNi, it NCREIF Property halm (NH) (2.2%) S&P 500 (14.1%) • NCREIF F