James Real Estate RE Inv Criteria Dnvr 2000 3rd Qtr Page 9
JAMES REAL ESTATE SERVICES, INC.
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8
Discount Rates Retail (%)
1997
1998
1999
2000
1Q 2Q 3Q 4Q
Nat Den Nat Den Nat Den Nat Den Nat Den Nat Den Nat Den
Regional Mall
RERC
National
11.1
10.8
11.6
11.9
12.0
West - 1
st
Tier
10.7
11.5
12.2
11.3
West - 2
nd
11.9
12.1
13.1
12.3
West - 3
rd
13.0
13.8
14.7
13.3
C&W
14.0
13.2
KORP
Institut'l
11.5
11.3
11.3
11.3
11.2
- Non-Inst
13.3
13.2
13.1
JF
12.0
10.3
Power Center
C&W
12.6
13.7
RERC
National
11.1
12.1
12.0
12.6
West - 1
st
Tier
10.9
11.8
12.1
11.6
West - 2
nd
11.8
12.5
12.8
12.3
West - 3
rd
12.7
13.4
14.2
13.2
KORP
Institut'l
11.3
11.3
11.3
11.3
11.2
Community &
Neighborhood
RERC
National
11.5
11.0
11.4
11.7
11.7
West - 1
st
Tier
11.2
11.8
11.7
11.6
West - 2
nd
12.1
12.5
12.5
12.3
West - 3
rd
12.3
13.3
13.8
13.3
C&W
12.2
12.4
KORP
Institut'l
11.5
11.5
11.6
11.5
11.5
- Non-Inst
14.1
13.9
13.9
JF
12.0
10.5
Specialty
C&W
13.9
Data Sources:
RERC
Real Estate Research Corp
KORP
Korpacz R E Investor Survey C&W
Cushman
&Wakefield
NREI
National Real Estate Index
NREIM
Nat'l R E Investor Magazine
IJF
Integra/Joseph Farber