Summary RealtyRates.com™ Market Survey Reports Overall Positive Operating Fundamentals For Apartments, Negative For All Other Property Types During 3rd Quarter 2011 During the 3rd Quarter of 2011, movements in Apartment operating fundamentals continued to show improvement in virtually all markets, while all other property sectors exhibited negative signs in most markets during the same period. In spite of declines in overall Industrial, Office and Retail capitalization rates and in some cases rents as well they were largely negated by greater relative increases in vacancy rates and operating expenses and decreases in sales prices. Ironically, there is clearly a general feeling the commercial markets are slowly improving but overall economic and Federal debt and tax uncertainty weigh heavily on investor confidence. National Data Apartments The following summarizes market data for apartment properties nationwide (continental U.S.). Properties are typically garden style, 90-300 units; however, mid- and high-rise buildings are included in some markets, e.g., New York, San Francisco. Industrial The following summarizes market data for warehouses & distribution centers and flex/R&D industrial properties nationwide (continental U.S.). Office The following summarizes market data for CBD and suburban office properties nationwide (continental U.S.). Retail The following summarizes market data for anchored neighborhood and community and unanchored strip retail centers nationwide (continental U.S.).