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sd-10-EFTA01388592Dept. of Justice

EFTA Document EFTA01388592

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18 October 2016 REITs US REIT 3016 Earnings Preview Figure 13: Moody'siRCA CPPI index trends )30.00 250.03 150.00 100 00 50.00 0.00 MCI 0%16 ;11;; Irgilrgi5Agnt -Nihon* -Wipe Market, -Non4/0jor Markets • May marked the 4th consecutive n-ifm increase post Jan and Feb declines, which were the first since early 2010 Sow* Dania On. AI cce(vRCA Figure 14: CRE pricing versus prior peak levels 1000% MA% 1400% 1100% 1000% 000% 000% 400% 200% 00% Data as al 1002 e E C 8

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Dept. of Justice
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sd-10-EFTA01388592
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